The British oil and gas giant BP announced on Tuesday September 12 the resignation of its managing director, accused of having hidden “personal relationships” with several colleagues within the group.
“BP announces that Bernard Looney has informed the group that he is resigning from his position as CEO with immediate effect” after admitting “not having been completely transparent,” the group said in a press release. The current financial director, Murray Auchincloss, will take over in the interim.
In its press release, BP specifies that it became aware, in May 2022, of “allegations (…) relating to the behavior of Mr. Looney concerning personal relationships with colleagues within the group”.
Not completely transparent
An internal investigation was launched, during which the chief executive, who took over as CEO in 2020, admitted to “a small number of long-standing relationships with colleagues before becoming chief executive”. “No violation of the group’s code of conduct was noted,” BP said.
“But new allegations of a similar nature” have emerged “recently” and “today [Tuesday] Mr. Looney informed the group that he acknowledged that he had not been fully transparent in his previous statements.”
“The group has strong values and the board expects everyone within it to behave in accordance with these values. “All leaders in particular are expected to act as role models and exercise good judgment in order to gain the trust of others,” BP further emphasizes.
Bernard Looney joined BP as an engineer in 1991 and spent his entire career there, holding various operational and management positions in several countries.