BP's New CEO Signals Cost-Cutting Measures, US C-Stores in Crosshairs

BP's new CEO, Meg O'Neill, will accelerate cost-cutting efforts and may target its US c-store business, including TA, Thorntons, and Ampm, for potential divestiture. The company aims to reduce expenses by $2 billion by 2026 and has already laid off thousands of employees, including many in its c-store division. O'Neill's appointment signals major change for BP, which has faced challenges in its strategy to go green and its customers and products business.