BP's strategy and sustainability chief Giulia Chierchia, the key architect of the group's ill-fated foray into renewables, will step down on June 1, the company said on Tuesday. Activist investor Elliott had demanded her exit alongside other structural changes at the company to improve accountability,

Britain's BP said on Tuesday net profit plunged in the first quarter as the struggling energy giant undergoes a major overhaul back to its fossil fuel business.

British oil giant BP on Tuesday posted slightly weaker-than-expected first-quarter net profit, following a recent strategic reset and a slump in crude prices.