Bernard Looney, CEO of British energy company BP, has resigned. Bernard Looney has resigned with immediate effect after admitting that his historical relationship with a colleague was not fully transparent. Know that someone has been made interim CEO in his place. Read the complete news.
Bernard Looney, chief executive of British energy giant BP, has resigned from his post.
Bernard Looney has resigned “with immediate effect” after admitting he was not “fully transparent” about historical relationships with colleagues.
The company issued a statement and informed
Let us tell you that BP said in a statement, “Bernard Looney has informed the company that he has resigned from the post of Chief Executive Officer with immediate effect.”
He was made interim CEO of the company
Following the resignation of Bernard Looney, BP has appointed Murray Auchincloss as the new interim CEO. Looney, 53, has been in office for less than four years.
BP had received a complaint in May last year
BP said last May its board had received allegations from an unnamed source relating to Looney’s conduct “in relation to personal relationships with company associates” which had been reviewed.
During the review Looney “disclosed certain historical relationships with colleagues before becoming CEO”, BP also said, adding that no violations of the company’s code of conduct were found.
However, according to BP, the board was given assurances over the disclosure of his past personal relationships as well as his future conduct.
Investigation started immediately after the allegation
As soon as the company became aware of the allegation, it immediately began an investigation with the assistance of external legal counsel. After which Looney has informed the company that he now accepts that he was not completely transparent in his previous disclosures.
BP said the board expects all employees to behave in accordance with the company’s values. Let us tell you that Looney has been with BP since joining the British energy giant in 1991 and was appointed Chief Executive in 2020.