EurOil: BP could hire externally to replace ex-CEO Looney

BP’s new CEO could be an external hire, the UK oil major’s chairman Helge Lund said in a webcast last week, following the resignation of former boss Bernard Looney earlier this month over his failure to reveal relationships with colleagues.

This would represent a marked departure for BP, which has traditionally always hired internally when it comes to top executive posts.

Less than four years into his tenure, Looney quit BP on September 12, drawing an end to his career-long time with the company. The CEO “did not provide details of all relationships and accepts he was obliged to make more complete disclosure,” the company said.

At that time the company found no breach of its code of conduct. But BP said that its board “sought and was given assurances by Mr Looney regarding disclosure of past personal relationships, as well as his future behaviour.” Additional allegations were made and a probe that involves external legal counsel is continuing, BP said.

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