BP CEO Bernard Looney resigns after reports of relationships with colleagues

Bernard Looney has stepped down after less than four years in office following several allegations of personal relationships with colleagues.

BP CEO Bernard Looney has stepped down after less than four years in office following several allegations of personal relationships with colleagues, the company said in a statement Tuesday.“BP plc announces that Bernard Looney has notified the Company that he has resigned as Chief Executive Officer with immediate effect,” BP said.

Looney, 53, took office in February 2020 with a vow to reinvent the 114-year-old company, laying out ambitious plans for the British energy giant to achieve zero net emissions by 2050, and to invest billions in renewable and low-carbon power.Looney has navigated the group through some of the most tumultuous years in modern history, from COVID-19 to a rapid exit from Russia following the invasion of Ukraine last year, an energy price shock, and a global cost of living crisis.

Over the last three years, BP’s shares have underperformed those of European rival Shell as well as US peers Chevron and Exxon Mobil.

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