The terms of the purchase also included an option to acquire 50 percent or more of the company before the end of 1955; it executed this option in late 1954. Anglo-Iranian was also granted two seats on the Triad board and began supplying the company with technical staff. By the spring of 1955, Anglo-Iranian's investment in Triad was around $19.5 million. Formation and development of BP Canada, 1955–1969 On 16 December 1954, the Anglo-Iranian Oil Company changed its name to British Petroleum. The British Petroleum name entered Canada on 15 June 1955, when it incorporated the subsidiary BP Canada Limited under a federal charter. By early 1957 the company had begun operations. In February of that year, BP Canada announced a $60 million plan to construct a 30,000 barrels-per-day refinery in Montreal and develop a chain of retail outlets in Quebec and Ontario. In March, the company acquired its first 50 service stations in Quebec from the Lake St John Distributing Company and converted them to BP branding. At the same time, BP Canada contracted Christian Dior to design the uniforms for its female service station attendants. However, after Dior's death in October 1957, it had to find a new designer. In April 1958, the company announced its entry into the Ontario market with the purchase of six retail stations in the Ottawa area. By the end of 1958, BP Canada had around 400 stations in Quebec and 100 in Ontario. In 1957, a holding company called the British Petroleum Company of Canada Limited was incorporated. All of BP's Canadian assets, including D'Arcy Exploration's 50 percent stake in Triad Oil, were transferred to it. On 8 October 1958, BP Refinery Canada Limited was incorporated to manage the Montreal refinery that was under construction. H. L. Ray was sent from London to act as the new company's general manager. BP Canada's first president was Sir Alastair Frederick Down MC OBE (1914–2004), who had begun working for Anglo-Iranian in 1938. Down remained at the helm until he was recalled to London in 1962 to serve as BP's managing director. His successor as president was Ralph Norman Tottenham-Smith, the son of British diplomat Ralph Henry Tottenham-Smith. In April 1957, Graham Ford Towers CMG (1897–1975) was invited to become BP Canada's first chairman. Towers had previously served as the first Governor of the Bank of Canada, and had left that position in 1954. In