Chad Bown, Houston-based managing director, is leaving the CVC team as it shifts strategy to mirror new priorities at the oil and gas company.
Kevin Rodrigues has been promoted to the role of chief investment officer at BP Ventures, the latest in a series of moves at the investment arm of the UK-headquartered oil and gas company.
Earlier this year Jennifer Moreland took over from Gareth Burns as head of the unit, as the team shifts its focus to mirror the change in priorities at the parent company.
BP, which saw profits fall 16% to $7.5bn last year, is undergoing a large-scale, ongoing restructuring to “fundamentally reset” its strategy under new leadership for 2026, shifting focus toward oil and gas to boost returns. This includes cutting thousands of jobs and slashing costs.
The corporate investment arm, which at one stage had a team of 28, has been pared back to 15, spread across two teams in London and Houston.
Houston-based managing director Chad Bown is leaving the company as part of the restructuring. Bown, a highly-regarded investor who was recognised on the GCV Powerlist in 2023, had been with BP Ventures for more than 10 years.
Rodrigues, who was previously managing director and head of Europe and Africa for BP Ventures, has become the lead investment professional on the team under the leadership of Moreland.
Maija Palmer
Maija Palmer is editor of Global Venturing and puts together the weekly email newsletter (sign up here for free).
