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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Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

Secret chamber sealed 4,500 years ago found in the Pyramid of Khufu, and Hawass announces its opening to the world in 2026

A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

Germany installed vertical solar panels on a lake in Bavaria, and the result broke conventional logic: instead of producing energy at midday peak, the plant generates more early in the morning and in the evening, exactly when families turn on appliances and factories are in full swing.

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While common constructions rely on wood, metal, and industrial tiles, African houses made with mud, stone, and water do without imported roofing, withstand extreme heat, and have already become a climate solution for thousands of families.