BP shares soar after US activist Elliot builds up stake in fresh blow to boss Murray Auchincloss BP shares soared yesterday after activist investor Elliott took a stake in the group.
‘The window for Murray Auchincloss to convince the market he has a plan to revive BP’s fortunes just got shorter with reports that activist investor Elliott has joined the shareholder base,’ said Russ Mould, investment director at broker AJ Bell.
Frustration: BP chief exec Murray Auchincloss (pictured) is under pressure to focus on fossil fuels and cut investment in renewables.
Mould added: ‘Elliott might push for the company to stop allocating capital to existing renewables and clean energy projects and potentially exit them entirely.
The move piles pressure on boss Murray Auchincloss to focus on fossil fuels and cut investment in renewables.
