BP's Carol Howle will retire later this year after more than two decades at the energy major, leaving CEO Meg O'Neill without her deputy during a period of significant management upheaval. Howle's departure marks the latest in a string of senior exits, following former CEO Murray Auchincloss who stepped down after less than two years at the helm.

Howle joined as interim chief executive in December and formally became deputy CEO in April. She agreed to support O'Neill's transition but planned to step down once the handover was complete. During this interim period, Howle oversaw a portfolio review and long-term strategy development as BP navigated leadership uncertainty.

The timing complicates O'Neill's efforts to stabilize the company's direction. She confirmed Tuesday that BP won't replace the deputy CEO role, signaling a shift toward a leaner executive structure. The energy major is currently implementing an organizational restructure designed to simplify decision-making processes across its operations.

This departure removes an experienced executive from BP's leadership team just as the company attempts to streamline its structure. Without a designated deputy, O'Neill will need to rely on other senior managers to execute the simplification agenda while maintaining investor confidence in BP's strategic direction.