Current:Home > StocksBP top boss Bernard Looney resigns amid allegations of inappropriate 'personal relationships' -Clarity Finance Guides
BP top boss Bernard Looney resigns amid allegations of inappropriate 'personal relationships'
PredictIQ View
Date:2025-04-08 03:42:35
BP's top boss is out amid allegations of inappropriate personal relationships with colleagues, the multinational oil and gas company announced Tuesday.
Bernard Looney, 53, notified the company he had resigned as Chief Executive Officer, according to a statement from the British company headquartered in London.
The resignation was immediate and came after Looney admitted he was not “fully transparent” in his disclosures about past relationships, the company wrote in the statement.
BP's Chief Financial Officer, Murray Auchincloss, is now acting CEO until a formal replacement is announced, the company said.
CPI Live:Inflation rises for second straight month in August on higher gas costs
'A small number of historical relationships'
BP named Looney CEO in February 2020 and, three months later, the board said, it learned he had previous personal relationships with company colleagues.
The information, the company said, came from an anonymous source.
The company did not name the employees in the statement.
During a review by the board, Looney disclosed "a small number of historical relationships" with colleagues prior to becoming CEO and no breach of company rules was found.
Psychopaths are everywhere.Are you dating one? Watch out for these red flags.
Allegations 'of a similar nature'
But recently, the board disclosed it received additional allegations "of a similar nature." The company said it immediately began investigating the claims and said they remained under investigation on Tuesday.
"He now accepts that he was not fully transparent in his previous disclosures," the statement reads. "He did not provide details of all relationships and accepts he was obligated to make more complete disclosure."
BP said it has "strong values" and expects its employees − especially leaders, "to behave in accordance with those values."
Compensation decision not made yet
No decisions have yet been made regarding compensation payments to Looney, the company said in the statement.
Looney, who was born in Ireland, joined the company as an engineer in 1991 and spent his entire career at BP, according to the Associated Press.
After being promoted to CEO, Looney promised BP "would aim to achieve 'net zero' or carbon neutrality by 2050," the outlet reported, and pledged to up the amount the company invested in low-carbon projects.
Natalie Neysa Alund is a senior correspondent for USA TODAY. Reach her at [email protected] and follow her on X, the platform formerly known as Twitter @nataliealund.
veryGood! (1972)
Related
- The Best Stocking Stuffers Under $25
- 2024 PCCAs: Brandi Cyrus Reacts to Learning She and Miley Cyrus Are Related to Dolly Parton
- Lana Del Rey Marries Alligator Guide Jeremy Dufrene in Louisiana Swamp Wedding Ceremony
- How a Children’s Playground Is Helping With Flood Mitigation in a Small, Historic New Jersey City
- Sonya Massey's father decries possible release of former deputy charged with her death
- A Pennsylvania woman is convicted of killing her 2 young children in 2019
- Angel Reese calls out lack of action against racism WNBA players have faced
- Kelsea Ballerini Reveals the Most Competitive Voice Coach
- Don't let hackers fool you with a 'scam
- Al Michaels laments number of flags in Cowboys vs. Giants game: 'Looks like June 14th'
Ranking
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
- US resumes hazardous waste shipments to Michigan landfill from Ohio
- Last of Us' Bella Ramsey and Nashville's Maisy Stella Seemingly Confirm Romance
- Kelsea Ballerini and Chase Stokes Are True Pretties During 2024 People's Choice Country Awards Date Night
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- California Governor Signs Bills to Tighten Restrictions on Oil and Gas Drillers
- Cardi B says she regrets marrying Offset: 'Always been too good for you'
- Kelsea Ballerini Reveals the Most Competitive Voice Coach
Recommendation
Military service academies see drop in reported sexual assaults after alarming surge
Kelsea Ballerini and Chase Stokes Are True Pretties During 2024 People's Choice Country Awards Date Night
At the New York Film Festival, an art form at play
'We've got a problem': Sheriff scolds residents for ignoring Helene evacuation order
Woman dies after Singapore family of 3 gets into accident in Taiwan
Falling tree at a Michigan nature center fatally injures a boy who was on a field trip
FBI agent says 2 officers accepted accountability in fatal beating of Tyre Nichols
Montana man arrested for intentionally running a motorcycle off the road and killing the driver