BP’s chief executive, Bernard Looney, resigns after admitting he has not fully disclose the extent of past personal relationships with colleagues.

Looney who was the head of the company since 2020 has stepped down with immediate effect, the company said. 

BP explained that they have recently started an investigation into alleged relationships, the second in two years.

The company said that he had admitted he was not “fully transparent” initially.

“Mr Looney disclosed a small number of historical relationships with colleagues prior to becoming CEO. No breach of the Company’s Code of Conduct was found. However, the Board sought and was given assurances by Mr Looney regarding disclosure of past personal relationships, as well as his future behaviour,” they said in a statement. 

“Further allegations of a similar nature were received recently, and the Company immediately began investigating with the support of external legal counsel.   That process is ongoing,” they added.

Looney joined the company in 1991 at the age of 21. He spent his career there. He became the CEO in 2020 to change the oil and gas giant into an energy leader.