EurOil: BP's long search for a new CEO continues

The search for a new CEO at BP is expected to drag on into next year, leaving one of the largest oil and gas producers in the world without a clear sense of direction.

Former BP CEO Bernard Looney resigned in mid-September some four years into his term. The company explained that he had not provided “details of all relationships and accepts he was obliged to make more complete disclosure.” It said it had not found a breach of its code of conduct, but said the board “sought and was given assurances by Mr Looney regarding disclosure of past personal relationships, as well as his future behaviour.”

No further information has been revealed to date, but the company is continuing an internal investigation that it expects to complete by the end of this year. It will also come to a resolution on a payout for the former boss – a decision that will take into account that he resigned and was not fired.

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