Looney Bernard (Bernard Looney)

Looney Bernard (Bernard Looney)

Biography

2023: Dismissal due to inappropriate relations with subordinates

On September 12, 2023, the head of the oil and gas company BP Bernard Looney resigned. The reason was his reluctance to disclose personal relations with subordinates.

Looney took over as head of BP in 2020, and in May 2022, the company's board received information from an anonymous source regarding Looney's "relationship with his work colleagues." An external legal consultant was engaged to conduct the audit. During the investigation, Looney disclosed relationships with other employees before becoming CEO. No violations of the company's code of conduct have been identified.

However, further statements of a similar nature were subsequently received regarding Looney and the company immediately re-investigated. Independent specialists are also involved in this process. Looney had already admitted that he was "not completely transparent" about providing personal information: he did not disclose details about all dealings with subordinates, although he was obliged to do so in accordance with company policy.

BP has strong values and the board expects all employees to behave in accordance with these principles. In particular, it is assumed that executives will serve as a role model and show common sense in such a way as to gain the trust of colleagues, the company said in an official statement.

It is also noted that as of mid-September 2023, decisions on the payment of Looney's remuneration were not made. In 2022, Looney received almost £10 million (about $12.47 million at the exchange rate as of September 13, 2023) in the form of salary and securities. Following Looney's departure, Murray Auchincloss, the company's chief financial officer, will serve as interim CEO.^[1]

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