BP hires Equinor exec to lead ventures business

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By Ron Bousso

LONDON (Reuters) - BP (NYSE:BP) has appointed Gareth Burns to head its global ventures division which oversees the company's investments in start-up technologies as part of its shift to low-carbon energy.

Burns joins from Norwegian rival Equinor where he set up and has led its energy ventures business since 2016, BP said in a statement.

BP's ventures business has invested $1 billion in 70 companies and actively manages 30 of these today, according to its website. The businesses range from unmanned aerial vehicles to geospatial analytics software and artificial intelligence.

BP also appointed Giorgia Carchitto as senior vice president of low carbon commercial assets. Carchitto previously worked for RWE Renewables.

Both positions report to Giulia Chierchia, head of strategy, sustainability and ventures.

BP has poached dozens of staff from rivals and leading renewables firms in recent years as it pushes ahead with Chief Executive Officer Bernard Looney's plan to rapidly expand the British company's renewables and low-carbon businesses.