BP (BP)

Who is on the board?

        Governance policies and processes depend upon the quality and commitment of the people who operate them.

        The board is composed of the chairman, 12 non-executive and six executive directors. In total, five nationalities are represented on the board. Directors' biographies are set out in Directors and Senior Management in this Item on pages 118-120. As reported last year, the board is actively engaged in succession planning issues. As a result, the size of the board has increased during the past year despite the departure of Mr Maljers and Mr Olver. Mr Burgmans (February), Sir Tom McKillop (July) and Mr Flint (from January 2005) were appointed as non-executive directors, while Mr Conn joined the board as an executive director in July.

        The efficiency and effectiveness of the board are paramount concerns. Our board is large but this is necessary to allow sufficient executive director representation to cover the breadth of the Group's business activities and sufficient non-executive representation to reflect the scale and complexity of BP and to staff our board committees. A board of this size allows orderly succession planning for key roles.

        We believe refreshing the composition of the board should be an orderly process of evolution that ensures its continuing effectiveness. New non-executive directors will be appointed over the coming

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years. Mr Knight and Sir Robin Nicholson retired at the 2005 AGM. Mr Miles will retire in 2006 and subject to their annual re-election, Mr Bryan and Mr Wilson in 2007.

Who is on the board?

        Governance policies and processes depend upon the quality and commitment of the people who operate them.

        The board is composed of the chairman, 12 non-executive and six executive directors. In total, five nationalities are represented on the board. Directors' biographies are set out in Directors and Senior Management in this Item on pages 112-114. As reported last year, the board is actively engaged in succession planning issues. As a result, the size of the board has increased during the past year despite the departure of Mr Maljers and Mr Olver. Mr Burgmans (February), Sir Tom McKillop (July) and Mr Flint (from January 2005) were appointed as non-executive directors, while Mr Conn joined the board as an executive director in July.

        The efficiency and effectiveness of the board are paramount concerns. Our board is large but this is necessary to allow sufficient executive director representation to cover the breadth of the Group's business activities and sufficient non-executive representation to reflect the scale and complexity of BP and to staff our board committees. A board of this size allows orderly succession planning for key roles.

        We believe refreshing the composition of the board should be an orderly process of evolution that ensures its continuing effectiveness. New non-executive directors will be appointed over the coming

136

years. Mr Knight and Sir Robin Nicholson retired at the 2005 AGM. Mr Miles will retire in 2006 and subject to their annual re-election, Mr Bryan and Mr Wilson in 2007.