BP's new chairman to lead shakeup

BP's incoming chairman, the former Ericsson boss Carl-Henric Svanberg, will lead a shake-up of the oil giant's boardroom when he takes over, The Sunday Times reported.

"From my point of view, that is not a negative. They probably held back a bit on changes because they were waiting for this change" Svanberg told the paper in an interview.

BP Deputy Chairman Ian Prosser and Erroll Davis, a non-executive board member, are expected to leave next year after more than a decade on the board, with DeAnne Julius exiting by 2011, the paper said.

The company is already looking for a replacement for Tom McKillop, who stepped down in April because of his involvement with the Royal Bank of Scotland.