BP Claws Back $40 Mln In Pay From Former CEO Citing Serious Misconduct

BP Plc said it has forfeited a maximum of 32.43 million pounds or $40.59 million in potential remuneration from former CEO Bernard Looney after the British energy major determined that he knowingly misled the board regarding his personal relationships with colleagues. In a statement, BP said that Looney has been dismissed without notice effective on December 13.

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