BP vs Procter & Gamble: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: BP and Procter & Gamble side by side

1. 1837Procter & Gamble

   Company Founded in Cincinnati

   William Procter and James Gamble sign a partnership agreement on October 31, 1837, establishing Procter & Gamble in Cincinnati, Ohio, with combined capital of approximately 7,192 dollars.

2. 1862Procter & Gamble

   Civil War Army Contracts Fuel Expansion

   P&G wins contracts to supply the Union Army with soap and candles, generating significant revenue that enables manufacturing expansion and introduces millions of American soldiers to P&G products for the first time.

3. 1882Procter & Gamble

   Ivory Soap Launches Nationally

   Harley Procter and James Norris Gamble introduce Ivory soap, promoted as 99 and 44/100 percent pure and notable for its floating characteristic.

4. 1890Procter & Gamble

   Company Incorporates and Expands Nationally

   Procter & Gamble incorporates in Ohio with capital of 4.5 million dollars and begins building manufacturing capacity outside Cincinnati, establishing the operational infrastructure for national distribution that the Ivory soap advertising campaign had created…

5. 1901BP

   D'Arcy Persian Concession

   William Knox D'Arcy obtains a 60-year oil concession from the Shah of Persia covering about 480,000 square miles, roughly three-quarters of the country, in exchange for £20,000 in cash, £20,000 in shares and 16% of annual profits.

6. 1908BP

   Discovery of Oil at Masjid-i-Suleiman

   After seven years of expensive and largely unsuccessful drilling, field manager George Reynolds strikes oil at Masjid-i-Suleiman in south-west Persia on May 26, 1908. It is the first commercial oil discovery in the Middle East.

7. 1909BP

   Anglo-Persian Oil Company Incorporated

   The Anglo-Persian Oil Company is formally incorporated in April 1909, with William Knox D'Arcy and the Burmah Oil Company as principal backers.

8. 1911Procter & Gamble

   Crisco Shortening Introduced

   P&G launches Crisco vegetable shortening, the first hydrogenated vegetable oil product marketed to American consumers as an alternative to lard and butter.

9. 1914BP

   British Government Acquires 51% Stake

   At the urging of Winston Churchill, First Lord of the Admiralty, the British government pays ~$2.9 million (£2.2 million) for a 51% stake in Anglo-Persian and signs a long-term fuel-oil supply contract for the Royal Navy, which is converting its fleet from coa…

10. 1931Procter & Gamble

    Brand Management System Invented

    P&G executive Neil McElroy writes a famous internal memo proposing that each brand have its own dedicated management team responsible for competing against all rivals including other P&G brands.

11. 1946Procter & Gamble

    Tide Detergent Launches

    P&G introduces Tide synthetic detergent, which rapidly becomes the best-selling laundry product in the United States and establishes the template for all future P&G brand development: superior product performance, heavy consumer advertising, and sustained mark…

12. 1954BP

    Renamed British Petroleum

    Following the 1953 resolution of the Iranian nationalization crisis and the Shah's restoration to power, the company renames itself British Petroleum Company.

13. 1961Procter & Gamble

    Pampers Diapers Introduced

    P&G introduces Pampers disposable diapers, transforming the infant care category and creating what will become one of the company's most globally significant brands.

14. 1970BP

    North Sea Forties Field Discovery

    BP discovers the Forties field in the UK North Sea, one of the largest oil fields ever found in British waters. Together with Alaska's Prudhoe Bay, it gives BP politically secure production just as Middle Eastern governments take control of their oil.

15. 1987BP

    UK Government Privatization Complete

    The Thatcher government completes the privatization of its remaining 31.5% stake in BP through a global share offering timed for October 1987 weeks before the global stock market crash known as Black Monday disrupted the sale and left underwriters with unsold…

16. 1998BP

    Merger with Amoco Corporation

    BP merges with Chicago-based Amoco Corporation in a deal valued at approximately $48.2 billion the largest industrial merger in history at the time.

17. 2000BP

    Beyond Petroleum Rebrand

    Under then-CEO Sir John Browne, BP launches the 'Beyond Petroleum' rebranding campaign, introducing the sunflower logo still in use today and publicly positioning the company as an energy company committed to addressing climate change.

18. 2005Procter & Gamble

    Gillette Acquired for 57 Billion Dollars

    P&G completes the acquisition of Gillette Company for approximately 57 billion dollars in an all-stock transaction, adding Gillette razors, Braun appliances, Oral-B dental products, and Duracell batteries to the P&G portfolio.

19. 2010BP

    Deepwater Horizon Disaster

    The Deepwater Horizon drilling rig, operating on the Macondo well in the Gulf of Mexico under contract to BP, suffers a catastrophic blowout on April 20, 2010, killing 11 workers and triggering the largest marine oil spill in US history approximately 4.9 milli…

20. 2014Procter & Gamble

    Portfolio Transformation Announced

    CEO A.G. Lafley announces P&G's plan to divest more than 100 brands and focus the company on approximately 80 core brands in ten product categories.

21. 2019Procter & Gamble

    Portfolio Simplification Completed

    P&G completes the brand portfolio simplification, having divested more than 100 brands and consolidated around approximately 65 core brands.

22. 2020BP

    Net-Zero Commitment and Dividend Cut

    Under new CEO Bernard Looney, BP sets a net-zero ambition for 2050 and, in August 2020, pledges to cut oil and gas production by 40% by 2030 and raise low-carbon investment to about $5 billion a year.

23. 2024BP

    Auchincloss Confirmed as CEO

    Murray Auchincloss, BP's CFO since 2020 and interim chief since Bernard Looney's September 2023 exit, is confirmed as permanent CEO in January 2024.

24. 2024Procter & Gamble

    Fiscal Year 2024 Net Sales Reach Approximately 84 Billion Dollars

    P&G reports fiscal year 2024 net sales of $84.0 billion and net earnings attributable to P&G of about $14.9 billion, and raises its quarterly dividend 7% to $1.0065 per share, its 68th consecutive annual increase.

25. 2025BP

    Strategy Reset and Bumerangue Discovery

    In February 2025 BP cuts planned transition investment to $1.5-2 billion a year, raises upstream spending to about $10 billion a year and targets $20 billion of divestments and $14-18 billion of net debt by 2027.

26. 2025BP

    CEO Change and Castrol Sale Agreed

    On December 17, 2025 BP says Murray Auchincloss will step down and names Woodside Energy CEO Meg O'Neill as his successor from April 2026, with Carol Howle as interim CEO.

27. 2026BP

    O'Neill Takes Over and Simplifies BP

    Meg O'Neill becomes CEO on April 1, 2026. The board removes chair Albert Manifold on May 26 over governance and conduct concerns and names Ian Tyler interim chair, confirming him as permanent chair on September 2.

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