Former BP CEO Bernard Looney Denied £32.4M Payout Over Misconduct

Looney found to have 'knowingly misled' the board about past relationships, leading to immediate dismissal and forfeiture of benefits.

Former BP CEO Bernard Looney has been denied a £32.4 million ($41 million) payout after the company found he misled the board about his past relationships with colleagues.
Looney resigned in September after admitting he had not been 'fully transparent' about his past relationships.
BP's board concluded that Looney 'knowingly misled the board' and his actions amounted to 'serious misconduct'.
Looney will not receive any further salary, pension allowance or benefits, and he also won't get his 2023 annual bonus.
BP's Chief Financial Officer Murray Auchincloss is currently serving as interim CEO.