BP Wrongfully Withdraws $40 Million From Former CEO Looney

Written by Paulo Nogueira

Published on 13/12/2023 at 14:21

Updated on 13/12/2023 at 14:22

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BP Will Withdraw £32.4 Million in Compensation from Ex-CEO Looney Following Investigation into Inaccurate Communication and Personal Relationships.

BP announced the withdrawal of up to £32.4 million (US$ 40.59 million) in compensation from former CEO Bernard Looney, after the British oil giant concluded that he ‘knowingly deceived’ the board regarding personal relationships with colleagues.

The company decided to terminate the former chairman without notice as of December 13, stating that Looney will not receive any more salaries or benefits from the date of dismissal, nor will he receive an annual bonus for the fiscal year 2023.

Irish Looney resigned in September effective immediately, after less than four years in the role, for not fully disclosing prior personal relationship details with colleagues.

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Ex-CEO of the BP Oil Giant Accused of Providing Inaccurate and Incomplete Information

After careful consideration, the board concluded that by providing inaccurate and incomplete assurances in July 2022, Mr. Looney knowingly deceived the board ‘, BP said in a statement on Wednesday. The Chief Financial Officer Murray Auchincloss has been serving as interim CEO while the oil company conducted an investigation into the accusations against Looney and a search for Looney’s successor.

($1 = £0.7983)

(Reuters – Reporting by Prerna Bedi and Pushkala Aripaka; Editing by Devika Syamnath)

Former BP CEO Under Investigation

After careful consideration, the board concluded that by providing inaccurate and incomplete assurances in July 2022, Mr. Looney knowingly deceived the board ‘, BP said in a statement on Wednesday. Chief Financial Officer Murray Auchincloss has been serving as interim CEO while the oil company conducted an investigation into the accusations against Looney and a search for Looney’s successor.

(Reuters – Reporting by Prerna Bedi and Pushkala Aripaka; Editing by Devika Syamnath)

Former BP President Faces Accusations of Deceiving the Board

After careful consideration, the board concluded that by providing inaccurate and incomplete assurances in July 2022, Mr. Looney knowingly deceived the board ‘, BP said in a statement on Wednesday. Chief Financial Officer Murray Auchincloss has been serving as interim CEO while the oil company conducted an investigation into the accusations against Looney and a search for Looney’s successor.

(Reuters – Reporting by Prerna Bedi and Pushkala Aripaka; Editing by Devika Syamnath)

Former BP Director Accused of Providing Misleading Information

After careful consideration, the board concluded that by providing inaccurate and incomplete assurances in July 2022, Mr. Looney knowingly deceived the board ‘, BP said in a statement on Wednesday. Chief Financial Officer Murray Auchincloss has been serving as interim CEO while the oil company conducted an investigation into the accusations against Looney and a search for Looney’s successor.

(Reuters – Reporting by Prerna Bedi and Pushkala Aripaka; Editing by Devika Syamnath)

Source: AtCoMedia. Inc

BP Wrongfully Withdraws $40 Million From Former CEO Looney

BP Will Withdraw £32.4 Million in Compensation from Ex-CEO Looney Following Investigation into Inaccurate Communication and Personal Relationships.

Ex-CEO of the BP Oil Giant Accused of Providing Inaccurate and Incomplete Information

Former BP CEO Under Investigation

Former BP President Faces Accusations of Deceiving the Board

Former BP Director Accused of Providing Misleading Information

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BP Wrongfully Withdraws $40 Million From Former CEO Looney

BP Will Withdraw £32.4 Million in Compensation from Ex-CEO Looney Following Investigation into Inaccurate Communication and Personal Relationships.

Ex-CEO of the BP Oil Giant Accused of Providing Inaccurate and Incomplete Information

Former BP CEO Under Investigation

Former BP President Faces Accusations of Deceiving the Board

Former BP Director Accused of Providing Misleading Information

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Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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