"BP Recovers $40 Million from Ex-CEO Looney Amid Controversy"

BP has clawed back over $40 million in remuneration from former CEO Bernard Looney after concluding that he knowingly misled the board regarding personal relationships with colleagues. Looney was dismissed without notice for serious misconduct, and his remuneration package was cut by £32.4 million ($40.53 million). The majority of the value was linked to lost unvested share awards, and Looney will also be required to repay 50% of his 2022 cash bonus. BP's board is currently investigating Looney's undisclosed relationships to determine if they breached company rules.