Horton carried out a major corporate downsizing exercise, removing various tiers of management at the head office.[58] In 1992, British Petroleum sold off its 57% stake in BP Canada (upstream operations), which was renamed as Talisman Energy.[59] John Browne, who had joined BP in 1966 and rose through the ranks to join the board as managing director in 1991, was appointed group chief executive in 1995.[60]