BP BP Plc

BP's downstream chief, Iain Conn, will leave the oil giant later this year. The 29-year BP veteran, who spent recent years trying to boost BP's downstream profits during a dismal time for the refining industry, leaves two significant legacies, says Bernstein analyst Oswald Clint: BP's newly upgraded refinery in Whiting, Indiana, and a new focus on BP's once-low-profile lubricants business. Now, investors are hoping his replacement -- onetime lubricants chief Tufan Erginbilgic -- will be able to find new ways to boost refining margins. (Justin.Scheck@WSJ.COM)

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