Very nebulous news from BP. CEO Bernard Looney quits his job "immediately".
Will he flee to Russia (like many other high caliber refugees from the West lately)?
https://finance.yahoo.com/news/bp-knew-bernard-looney-workplace-125724521.html
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BP knew about Bernard Looney’s workplace relationships before chief executive appointment
Jonathan Leake, Fri, September 15, 2023 at 2:57 PM GMT+2
BP was aware of Bernard Looney’s relationships with colleagues before he became chief executive in 2020, it has emerged.
Board members quizzed Mr Looney about the relationships in the autumn of 2019 during the recruitment process that led to his appointment.
Mr Looney, 53, was forced to resign this week after admitting he had misled the board about the extent of his relationships with colleagues.
BP issued a statement saying Mr Looney had failed to fully disclose the extent of his relationships during an internal inquiry conducted in 2022. The investigation was opened following an anonymous complaint that was made internally.
However, it has now emerged that Mr Looney was also quizzed about his workplace relationships in autumn 2019 during the recruitment process that led to his appointment.
That process was led by Helge Lund, BP’s chairman.
The revelation will raise new questions about the board’s judgment in appointing Mr Looney and about the company’s processes for appointing senior executives.
Ann Francke, chief executive of the Chartered Management Institute, said: “Reports that BP’s board knew about these serious allegations before appointing Looney as CEO is a classic example of what goes wrong when companies prioritise technical competence at the expense of behaviour.”
BP’s code of conduct does not forbid workplace relationships. However, it does state that relationships must be declared if there is any risk of a conflict of interest.
[...]
"
What silly rules the Anglo-Saxons have... Screwing...
Will he flee to Russia (like many other high caliber refugees from the West lately)?
https://finance.yahoo.com/news/bp-knew-bernard-looney-workplace-125724521.html
"
BP knew about Bernard Looney’s workplace relationships before chief executive appointment
Jonathan Leake, Fri, September 15, 2023 at 2:57 PM GMT+2
BP was aware of Bernard Looney’s relationships with colleagues before he became chief executive in 2020, it has emerged.
Board members quizzed Mr Looney about the relationships in the autumn of 2019 during the recruitment process that led to his appointment.
Mr Looney, 53, was forced to resign this week after admitting he had misled the board about the extent of his relationships with colleagues.
BP issued a statement saying Mr Looney had failed to fully disclose the extent of his relationships during an internal inquiry conducted in 2022. The investigation was opened following an anonymous complaint that was made internally.
However, it has now emerged that Mr Looney was also quizzed about his workplace relationships in autumn 2019 during the recruitment process that led to his appointment.
That process was led by Helge Lund, BP’s chairman.
The revelation will raise new questions about the board’s judgment in appointing Mr Looney and about the company’s processes for appointing senior executives.
Ann Francke, chief executive of the Chartered Management Institute, said: “Reports that BP’s board knew about these serious allegations before appointing Looney as CEO is a classic example of what goes wrong when companies prioritise technical competence at the expense of behaviour.”
BP’s code of conduct does not forbid workplace relationships. However, it does state that relationships must be declared if there is any risk of a conflict of interest.
[...]
"
What silly rules the Anglo-Saxons have... Screwing...
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