£32m scandal | Ex-BP chief pays heavy price for failing to disclose workplace relationships

The former CEO of BP has paid a heavy price - £32 million in fact - for failing to tell the board about past relationships with colleagues.

BP has cut over £32million ($40 million) in remuneration from former CEO Bernard Looney, after the British oil giant concluded he had knowingly misled the board.

Looney had announced in September that he would resign after revelations of personal relationships with company colleagues surfaced, prompting the company to launch an investigation.

That followed similar claims the board investigated in May 2022. During that review, Looney disclosed "a small number of historical relationships with colleagues prior to becoming CEO."