Sept 13 (LNG) - UK major BP said Chief Executive Bernard Looney had notified the company that he had resigned with immediate effect for telling lies on personal relationships within the company. BP added that Murray Auchincloss, the company’s Chief Financial Officer, would act as CEO on an interim basis. Shareholders had been disappointed by Looney’s nearly four years at the helm during which the shares had risen by just 6 percent compared with double-digit rises in the stock of other energy majors. There are now rising calls for the board to quit as well.
Looney had been increasingly criticised by shareholders for his cut backs in oil and gas activities and his obsession with receiving praise from social media and “green” groups rather than getting on with the job. Analysts said some of the board should also resign for their neglectful attitudes while BP was now a possible takeover target after years of instability.
