Companies

Irishman Bernard Looney forfeits £32m after exiting BP over ‘serious misconduct’

Kerry native has lost out on tens of millions after board found he ‘knowingly misled’ them about past relationships with colleagues

Bernard Looney: Irishman resigned as BP chief executive in September after board found he had not been fully transparent about past relationships with colleagues. Picture: Jason Alden/Bloomberg

Bernard Looney, the Irishman who led BP until his resignation in September, has forfeited £32 million (€37 million) after the oil giant’s board found he “knowingly misled” them about past relationships with colleagues at the company.

BP on Wednesday confirmed that Looney, from Kerry, has lost out on tens of millions in salary allowances, share awards, bonuses and other payments following his abrupt departure as chief executive after just four years.

It dismissed him on ...