The chief executive of energy giant BP is set to resign after less than four years on the job, News.az reports citing CNBC.

Bernard Looney took over as CEO of BP in 2020 after previously leading the company’s Upstream group. When the move was announced, board chair Helge Lund praised Looney as the right choice to lead BP into an era of energy transition.

U.S.-traded shares of BP were up a fraction during mid-afternoon trading Tuesday, giving back almost all of an earlier 2.9% rally.