Bernard Looney

Posted By: Ramesh Sharma Posted On: Sep 14, 2023
FILE - CEO of oil and gas company BP Bernard Looney talks during the Abu Dhabi International Petroleum Exhibition & Conference in Abu Dhabi, United Arab Emirates, Monday, Oct. 31, 2022. (AP Photo/Kamran Jebreili, File)

British oil and gas major BP Plc has announced the surprise exit of Bernard Looney, its chief executive officer (CEO) since Feb 2020, with the Irishman stepping down from his role and leaving the company after he failed to ‘fully detail relationships with colleagues.'

“He did not provide details of all relationships and accepts he was obliged to make more complete disclosure. 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 judgment in a way that the earns the trust of others,” BP informed its investors in a statement on Tuesday, according to The Guardian.

Last year, Looney underwent a review during which the 53-year-old revealed ‘a small number of historical relationships prior to becoming CEO'; the review was triggered due to information received from an ‘anonymous source.'

At the time, the London-headquartered firm did not find any breach of its code of conduct; however, it was given assurance by the now-former CEO regarding both his past relationships and future behaviour.

Recently, some fresh allegations were made, necessitating an inquiry that is still ongoing.

“Mr Looney has today informed the company that he was not fully transparent in his previous disclosures,” BP's statement read.

Murray Auchincloss, the oil and gas giant's chief financial officer (CFO), will fill the vacant chair on an interim basis. Bloomberg has Auchincloss on its list of BP Plc's next full-time CEO, the others being Heige Lund, William Lin, Anja-Isabel Dotzenrath and Gordon Birrell.

He joined in 1991 at the age of 21, and went on to hold roles in its operations in North Sea, Vietnam and Mexico; in 2016, he was elevated as the head of its upstream division.

After taking over as the chief executive officer, Looney unveiled his plan to make BP ‘a net-zero company by 2050 or sooner.'

Source: Hindustan Times
Related Posts:

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.

POPULAR News

icon
Bussiness Petrol and diesel prices In India remained stagnant on Thursday, continuing the year long price stability, that has been seen since May 21 last year, when the previous pan-India revision to fuel rates was carried out. Prices across major cities including New Delhi, Kolkata, Mumbai, Chennai did not r
icon
Bussiness Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 19,816, signaling that Dalal Street was headed for a positive start on Monday. Here's a slew of stocks that will be in focus today for various reasons. Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 1
icon
Bussiness OMG 2, directed by Amit Rai, received a warm welcome from the audience. The film, featuring Pankaj Tripathi, Akshay Kumar, and Yami Gautam, achieved a strong opening at the domestic box office on its first day of release. OMG 2, directed by Amit Rai, received a warm welcome from the audience. The film, f
icon
Bussiness MCX Q1 Results: Multi Commodity Exchange of India (MCX) announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 29, reporting a decline of 52.5 per cent in consolidated net profit of ₹19.66 crore, compared to ₹41.46 crore in the corresponding period last year. The operating inc
icon
Bussiness Power trading solutions provider PTC India on Saturday posted a 5.62 per cent year-on-year rise in its consolidated net profit at ₹142.70 crore for the April-June quarter of this fiscal, mainly on the back of higher revenues. Power trading solutions provider PTC India on Saturday posted a 5.62 per ce
icon
Bussiness As the deadline for filing Income Tax Returns (ITR) is just one day away, the department stated that more than 6 crore tax returns have been filed for income earned in the 2022-23 fiscal year as of Sunday evening. A total of 27 lakh ITRs have been received by the income tax department, number which has surp
icon
Bussiness Petrol, and Diesel Prices on August 10: The price of Petrol and Diesel remained constant on Wednesday, August 10 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary fro
icon
Bussiness RBI MPC Meeting 2023 Live Updates: Will Guv Das Hike Repo Rate Or Leave it Unchanged? Updated 1 hour ago
icon
Bussiness LPG Cylinder Rates: Oil marketing companies have cut the price of 19 kg LPG gas cylinders across the country. There has been a reduction of Rs 100 in Delhi. At the same time, a reduction of around Rs 93 has been made in other metros. Now 19 kg cylinder will be available in Delhi for Rs 1680, which was till now a
icon
Bussiness Petrol, and Diesel Prices on July 31: The price of Petrol and Diesel remained constant on Monday, July 31 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary from state t
icon
Bussiness India and Britain could sign a free trade agreement (FTA) this year as both countries have reached consensus on the broad contours of the proposed deal aiming to boost economic growth and jobs, a top Indian trade ministry official said. India and Britain could sign a free trade agreement (FTA) this yea
icon
Bussiness Balrampur Chini Mills posted strong Q1 results on Saturday as their profit jumped a whopping 493% to touch ₹73.5 crore during the quarter ending June 2023. During the same quarter last fiscal, the company posted consolidated net profit of ₹12.38 crore. The revenue of the company rose 28% from ₹1,094.
icon
Bussiness The price of gold marginally dropped on Thursday, with the cost of 1 gram of 22 carat gold declining to ₹5,495 from yesterday's ₹5,505, as per the figures released by Goodreturns. Accordingly, the price of 8 grams of 22 carat gold also decreased to ₹43,960 from the previous figure of ₹44,040, marking a p
icon
Bussiness Reliance Industries Ltd, India's most valuable company, has sought shareholder's approval to give Mukesh Ambani another five-year term as chairman and managing director of the company till 2029 -- a period during which he has opted to draw nil salary.
icon
Bussiness Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till July 31, the airline announced in a tweet on Sunday. Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till Jul
icon
Bussiness In order to settle the pending contractual disputes of government and government undertakings, the finance ministry has launched the ‘Vivad se Vishwas II – (Contractual Disputes)' scheme, according to an official statement released on Wednesday. Finance Minister Nirmala Sitharam announced th
icon
Bussiness If you did not link your Permanent Aadhaar Number (PAN) to Aadhaar before June 30, your PAN is now considered inoperative. This means you'll face some problems with your financial activities and taxes. For instance, you won't be able to invest in bank fixed deposits or mutual fund schemes, file income
icon
Latest News India is currently seeing a surge in cases of acute conjunctivitis or eye flu. It is caused by various factors, such as allergies or infections, resulting in inflammation of the conjunctiva that covers the white part of the eyeball. The incessant rain, humid conditions, and waterlogging are providi
icon
World Isolated internationally and authority tested by a failed mutiny, Russia hosted African leaders for a summit in his native Saint Petersburg to project normalcy and display support from its allies. Isolated internationally and authority tested by a failed mutiny, Russia hosted African leaders fo
icon
Latest News Are you feeling Monday blues? Do you need a little pick-me-up? If you nodded, why not try some shopping-inspired brain teasers to perk you up? Who knows, a good brain teaser can be just the thing you need right now. The brain teasers feature shopping areas, and you need to spot different items in each of th
icon
World ‘RIP Tylee' is trending on social media after Canadian entrepreneur Ryan Cohen's pooch, Tylee, died. Ryan took to Instagram to share the news, adding that Tylee inspired him to start his e-commerce company, Chewy, in 2011. Ryan was the company's CEO until 2018, and is the executive chairman of GameSt
icon
Bussiness The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI. The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI.
icon
Entertainment Actors Kamal Haasan and Prabhas, along with director Nag Ashwin, visited San Diego Comic-Con to promote their upcoming film Kalki 2898 AD. The first glimpse of the sci-fi fantasy was unveiled at the event, that was also attended by Telugu actor Rana Daggubati. (Also Read: Kalki 2898 AD director Nag As
icon
Entertainment Filmmaker Anurag Kashyap recently gave a glowing review to Karan Johar's directorial comeback Rocky Aur Rani Kii Prem Kahaani. After Anurag revealed he loved, cried and watched the film twice, many users took to the comment section of his post and criticised the film. Responding to them all, Anurag c
icon
Latest News On any special occasion, cakes are a must. Whether you are celebrating your birthday, anniversary, promotion, or completing your graduation- cakes are always present to make your event better. While you must love the creamy taste and texture of this dessert, have you ever wondered how cakes are mass