Following the dismissal of its former boss for withholding information regarding his personal relationships with coworkers, oil company BP strengthened its policies around relationships at work.
It is now mandatory for senior managers to disclose any personal connections they may have had with employees during the previous three years.
If staff members don’t follow the new guidelines, they could be disciplined.
According to BP, a review of its updated conflict of interest policy was planned for this year.
The company stated that 4,500 managerial employees have been asked to submit any reports within the next three months, “regardless of whether they believe they present a conflict of interest.”
It follows the discovery that its former CEO, Bernard Looney, engaged in “serious misconduct” by neglecting to it.
He was fired abruptly in December and lost millions of pounds in bonuses and share allowances.
As part of an inquiry into the ties in 2022, the company claimed that Mr. Looney had provided “inaccurate and incomplete assurances”.
In a statement released in December 2023, Mr. Looney expressed his disappointment with “the way this situation has been handled.”
After receiving an anonymous tip, BP began examining Mr. Looney’s relationships with coworkers in 2022.
