Bernard Looney
Bernard Looney | |
---|---|
Born | 1970 (age 53–54) County Kerry, Ireland |
Education | University College Dublin Stanford Graduate School of Business |
Occupation | Businessman |
Title | CEO, BP |
Term | February 2020–September 2023 |
Predecessor | Bob Dudley |
Successor | Murray Auchincloss |
Spouse | [1] |
Bernard Looney
During Looney's tenure as CEO of BP, he promised to end BP's relationship with Rosneft, the Russian state-owned energy giant, amid Russia's 2022 invasion of Ukraine. Looney was a member of Rosneft's board until February 2022.[2]
Early life
Looney was born in County Kerry, and was raised on a small dairy farm in Ashgrove, near Kenmare. He was the first in his family to attend a university.[3][4] Looney earned a degree in electrical engineering from University College Dublin and a master's in management from Stanford Graduate School of Business.[4] Looney is a fellow of the Royal Academy of Engineering, and a fellow of the Energy Institute.[4]
Career
Looney, who has spent his entire career at BP, worked in
In October 2019, it was announced that Looney would succeed Bob Dudley as group chief executive[4] in February 2020.[6][7]
He sold BP shares worth £7.8 million in February and April 2019.[8][9][10]
Looney was one of five BP employees who attended COP27 as delegates of Mauritania, where BP has made significant investments. The company said Looney and the others attended for a signing ceremony; however, Looney's attendance was criticised by Global Witness activists who were unhappy at the influence of executives from fossil fuel companies at the conference.[11]
In March 2023, it was announced that Looney had received a 2022 pay package of £10 million, more than double what he received the previous year. The package included a £1.4 million salary, a £2.4 million bonus, and a £6 million share award, as well as benefits. It was criticized by Greenpeace and Global Witness, which questioned the appropriateness of such an increase while energy bills are a struggle for some families to pay.[12][13] In protest against this pay package, Global Witness rebranded a set of billboards initially used for advertising the adult site OnlyFans. The billboards, which previously showed an OnlyFans model in underwear, were altered to depict the BP CEO shirtless.[14]
In September 2023, Looney resigned abruptly from his position for failing to fully disclose details of his past personal relationships with colleagues.[15]
Response to the 2022 Russian invasion of Ukraine
Looney, by virtue of BP's 20% stake in Moscow-based oil-producer Rosneft, formerly served alongside Igor Sechin, who is the chief executive officer, president and chairman of Rosneft's management board.[16][17]
On 25 February 2022, Looney engaged in talks with the British
Personal life
Looney lives in Mayfair, central London, England.[21] He married British life coach Jacqueline Hurst in October 2017. They separated the next year and finalised their divorce in 2019.[1]
References
- ^ a b Nimmo, Jamie (20 February 2022). "BP's solar evangelist Bernard Looney feels the heat from ex-wife". The Sunday Times.
- ^ "BP exiting stake in Russian oil and gas company Rosneft". San Francisco Chronicle. 27 February 2022. Retrieved 27 February 2022.
- ^ a b "How this Kerry farmer's son is a rising star at oil giant BP". independent.
- ^ a b c d Taylor, Charlie (4 October 2019). "Irishman Bernard Looney named as chief executive of BP". Irish Times. Retrieved 4 October 2019.
- ^ Millard, Rachel (1 February 2020). "Can a new leader really help oil giant BP navigate the climate crisis?". The Telegraph – via www.telegraph.co.uk.
- ^ Meredith, Sam (4 October 2019). "BP CEO Bob Dudley to step down, Bernard Looney will succeed". CNBC. Retrieved 4 October 2019.
- ^ "BP chief executive Bob Dudley to retire, to be succeeded by Bernard Looney | News and insights | Home". BP global. Retrieved 22 October 2019.
- ^ "PRESS: New BP Chief Bernard Looney Sells Nearly GBP8 Million In Share". MorningstarUK. 9 December 2019. Archived from the original on 16 March 2023. Retrieved 12 April 2020.
- ^ "Director/PDMR Shareholding". otp.investis.com.
- ^ "Director/PDMR Shareholding". otp.investis.com.
- ^ McGrath, Matt (10 November 2022). "COP27: BP chief listed as delegate for Mauritania". BBC News. Retrieved 14 March 2023.
- ^ Lawson, Alex. "Doubling of BP boss pay to £10m is a 'kick in the teeth', say campaigners". The Guardian. Retrieved 14 March 2023.
- ^ "BP chief's annual pay more than doubles to £10m". BBC News. Retrieved 14 March 2023.
- ^ "'OilyFans' billboards show BP chief executive topless after earning £10 million". The Independent. 20 July 2023. Retrieved 31 July 2023.
- ^ Lawson, Alex (12 September 2023). "BP boss Bernard Looney resigns after failing to reveal relationships with colleagues". The Guardian.
- ^ "BP's ties to Russia draw UK government 'concern'". the Guardian. 25 February 2022. Retrieved 26 February 2022.
- ISSN 0140-0460. Retrieved 26 February 2022.
- ^ "Ukraine conflict: BP under pressure to sell stake in Russian firm". BBC News. 25 February 2022. Retrieved 25 February 2022.
- ^ Mark Thompson. "How Exxon, BP and Shell help Russia pump oil and gas". CNN. Retrieved 25 February 2022.
- ^ Foy, Henry (1 March 2018). "'We need to talk about Igor': the rise of Russia's most powerful oligarch". Financial Times. Retrieved 25 February 2022.
- ^ "How this Kerry farmer's son is a rising star at oil giant BP". Irish Independent. 28 October 2018. Retrieved 4 October 2019.