BP completes claw back of €2m from former CEO Looney's pay

Former BP chief executive Bernard Looney.

BP completed a claw back of £1.8m (€2.1m) from former CEO Bernard Looney's 2023 pay package following his dismissal in December for failing to disclose past relationships with employees, the company said in its annual report.

Mr Looney's remuneration totalled £1.17m last year, but he lost bonuses and share awards totalling £3m which were cancelled, BP said. BP announced last December that it had cut over £36m in remuneration from the former CEO after the British oil giant concluded he had knowingly misled the board over personal relationships with colleagues. Mr Looney's total remuneration reached £10.3m in 2022.