The British oil giant’s share price hit – the resignation was accompanied by an admission that it “has not been fully transparent about previous revelations about its relationships”
London, Thanasis Gavos
He submitted his resignation with immediate effect on Tuesday night CEO of BP Bernard Looneyfollowing allegations of “personal relationships with colleagues” which he had kept secret.
The development has dealt a blow to the value of the British oil giant’s shares.
Looney, 53, took over the reins of BP in February 2020 and his salary plus commissions amounted to more than £10m a year. He had joined the company as an engineer in 1991 at the age of 21.
He was facing charges of violating company rules, which require the authorities to be informed in case of relationships between employees.
According to BP itself, the resignation was accompanied by an admission that “he was not fully transparent about previous revelations about his relationships”.
In May 2022, a first investigation was conducted regarding complaints against Mr. Looney, but in which he concealed details of the relationships he maintained.
Source :Skai
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