Dec 13, 2023 at 9:00 PM Update: 39 minutes ago
Former BP CEO Bernard Looney will miss out on up to 32.4 million pounds (37.6 million euros) in rewards because he had to leave the oil and gas group in September. Looney resigned because he had withheld information about relationships with colleagues.
Looney had to open up about affairs with colleagues in July last year. The CEO is also said to have promoted women with whom he had had relationships, the business newspaper wrote Financial Times earlier. Looney promised to behave better from now on.
But in September it turned out that Looney had withheld certain things. That is why board members accused the CEO of deception, after which he had to leave the company immediately. It has not been disclosed what information Looney withheld.
Most of the multimillion-dollar compensation that Looney was owed from July 2022 will automatically expire due to his dismissal. In addition, the board is eliminating about 10 percent of the remuneration, because the former CEO has committed serious misconduct.
BP has not yet found a permanent successor for Looney. Murray Auchincloss, previously the financial director, is currently temporarily at the helm of the British company.
-
Another top executive is leaving oil company BP
-
BP CEO must resign immediately due to relationships with colleagues
Image: Bernard Looney at an event in June, Getty Images
Read more about:
BPEconomies
2023-12-13 20:00:48
#Sacked #CEO #Bernard #Looney #million #rewards #Economy
