BP chief executive officer Bernard Looney resigned immediately after less than four years. Looney informed the BP board that he had not been "fully transparent" about prior relationships with colleagues before becoming CEO. Previous investigations found no break of BP's code of conduct regarding Looney's relationships, but new investigations are ongoing. BP shares fell after the announcement but had gained earlier in the session. Looney was seen as the right leader for BP's energy transition.
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00:00 It's Benzinga and here's what's on the block.
00:02 BP Chief Executive Officer Bernard Looney resigned immediately after less than four
00:06 years in the role.
00:08 Looney informed the BP board that he had not been fully transparent about prior relationships
00:12 with colleagues before becoming CEO.
00:15 Previous investigations found no break of BP's code of conduct regarding Looney's
00:19 relationships, but new investigations are ongoing.
00:22 BP shares fell after the announcement but had gained earlier in the session.
00:26 Looney was seen as the right leader for BP's energy transition.
00:30 For all things money, visit Benzinga.com.
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