$111 Billion Energy Giant BP CEO Bernard Looney Resigns for Undisclosed Past Personal Relationships with Colleagues, CFO Murray Auchincloss Appointed as Interim CEO
16th September 2023 | Hong Kong
Energy giant BP (Market Value 15/9/23: $111 billion) CEO Bernard Looney has resigned for undisclosed past personal relationships with colleagues, with CFO Murray Auchincloss appointed as interim CEO. BP: “In May 2022, the Board received and reviewed allegations, with the support of external legal counsel, relating to Mr Looney’s conduct in respect of personal relationships with company colleagues. The information came from an anonymous source. During that review, Mr Looney disclosed a small number of historical relationships with colleagues prior to becoming CEO. No breach of the Company’s Code of Conduct was found. However, the Board sought and was given assurances by Mr Looney regarding disclosure of past personal relationships, as well as his future behaviour. Further allegations of a similar nature were received recently, and the Company immediately began investigating with the support of external legal counsel. That process is ongoing. Mr Looney has today informed the Company that he now accepts that he was not fully transparent in his previous disclosures. He did not provide details of all relationships and accepts he was obligated to make more complete disclosure.”
“ $111 Billion Energy Giant BP CEO Bernard Looney Resigns for Undisclosed Past Personal Relationships with Colleagues, CFO Murray Auchincloss Appointed as Interim CEO “
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