BP’s former boss is to be stripped of more than £32million in pay for a string of affairs with staff.
Bernard Looney was sacked in September when it emerged he had misled the oil giant about the nature and extent of his flings.
The company conducted an investigation last year into Mr Looney’s relationships with colleagues.
But a whistle-blower then informed the board that there was much more they did not know and Mr Looney had not confessed to.
BP said in a statement yesterday that it had concluded Mr Looney “knowingly misled the board” and this amounted to serious misconduct.
As a result, his 12-month statutory notice period has been ended and BP is now clawing back his pay, pensions, bonuses and future awards.
Mr Looney, 53, will have to return nearly £1million— half of the cash bonus he received when BP raked in bumper profits on the back of high energy prices earlier this year.
He will also have to give up share awards that the oil giant estimates have a maximum value of £32.4million.
Mr Looney, who earned £10million last year, spent his entire career at BP before becoming its chief executive in 2020.
Mr Looney joined the company aged 21 as a drill engineer.
Friends have highlighted his workaholic nature and three-decade stint at the company as a reason for workplace relationships.