Ex-BP boss Bernard Looney denied £32.4m over relationships with colleagues
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The former boss of oil giant BP has been denied a £32.4 million payout after the firm found he committed “serious misconduct”. “The board has determined that this amounts to serious misconduct.” As a result, it said £32.4 million worth of salary, pension, bonus payments and shares have been forfeited. It will also “claw back” some cash already paid to Mr Looney, including 50% of the cash bonus paid to him for the 2022 financial year. BP said this reflected “the decision by the board that Mr Looney should not retain any variable pay relating to service following the date of the misleading assurances”.
History of this topic
BP paid its boss £8m last year and clawed back £3m from old chief Looney
The Independent
Ex-BP boss Bernard Looney to miss out on up to £32million in pay, bonuses and shares for 'serious misconduct' after he 'knowingly misled' board about personal relationships with colleagues
Daily Mail
BP shares shrug off shock boss departure, but attention turns to successor
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