Former BP CEO Professes Shock at Successor's Departure
Former BP (NYSE:BP) CEO Bob Dudley on Tuesday said that Bernard Looney's abrupt resignation last month came as a shock and denied any prior knowledge of the latter's past personal relationships with colleagues.
Dudley, who worked at BP for 40 years and led the company as CEO for nearly a decade, said the British energy major would soon find a suitable replacement and that Looney's departure would likely not impact the firm's strategy. Looney succeeded Dudley, who stood down as BP CEO in 2020.
Looney resigned with immediate effect on Sept. 12 after less than four years on the job. He informed the company that he was not“fully transparent in his previous disclosures” about relationships with colleagues prior to becoming CEO, BP said.
Citing anonymous sources familiar with the matter, the Financial Times reported that Looney had promoted women with whom he had undisclosed past relationships, adding that his relevant romantic relationships with BP colleagues took place before his promotion to CEO. CNBC was unable to independently verify the reports.
“It's a shock to the organization. It came out of nowhere, and I think that the company has great assets, great people,” Dudley told reporters at the Abu Dhabi International Progressive Energy Congress oil and gas conference on Tuesday.
BP shares opened Tuesday down 26 cents to $37.56.
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