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The head of BP has suddenly resigned following allegations over “personal relationships with colleagues”.
Bernard Looney’s departure as chief executive of the British energy giant comes less than four years after he was appointed to the role.
The 53-year-old, who was paid more than £10m in wages, bonuses and other benefits last year, is said to have broken company rules which required him to disclose details of the relationships.
BP said in a statement that Mr Looney was standing down “with immediate effect”.
It added: “Mr Looney has today informed the company that he now accepts that he was not fully transparent in his previous disclosures.
“He did not provide details of all relationships and accepts he was obligated to make more complete disclosure.”
The company revealed it first “received and reviewed allegations” back in May 2022 which related to “Mr Looney’s conduct in respect of personal relationships with company colleagues”.
It added: “During that review, Mr Looney disclosed a small number of historical relationships with colleagues prior to becoming CEO. No breach of the company’s code of conduct was found.
“However, the board sought and was given assurances by Mr Looney regarding disclosure of past personal relationships, as well as his future behaviour.
“Further allegations of a similar nature were received recently, and the company immediately began investigating with the support of external legal counsel. That process is ongoing.”
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A spokesperson added: “The company has strong values and the board expects everyone at the company to behave in accordance with those values.
“All leaders in particular are expected to act as role models and to exercise good judgement in a way that earns the trust of others.
“No decisions have yet been made in…
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