Former BP boss Bernard Looney is to be dismissed without notice and will forfeit up to £32.4m after the oil giant found he committed “serious misconduct” over relationships with colleagues.
Mr Looney will not receive further salary or benefits, the oil giant said.
He resigned in September after admitting not being “fully transparent” about his past personal relationships.
The board said they had been “knowingly misled” by Mr Looney.
On Wednesday the firm said Mr Looney had given “inaccurate and incomplete assurances” as part of an investigation into the relationships in 2022.
His dismissal means he will get no further salary, pension allowance or benefits, no annual bonus, and lose out on nearly £25m in share awards.
Mr Looney had spent his career at BP, which he joined in 1991 as a drilling engineer.
Born in Ireland and raised on a farm, he became a member of its executive team in 2010.
Before taking over as chief executive from Bob Dudley, he was previously head of oil and gas production.
Chief financial officer Murray Auchincloss has been acting as interim chief executive while the oil firm investigated allegations about Mr Looney, and searched for his successor.
Mr Looney was approached for comment.
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13 September
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