Freshfields Bruckhaus Deringer has been leading BP’s investigation into Bernard Looney’s misconduct, which resulted in the former CEO forfeiting up to £32.4 million worth of payouts.
In September, BP’s former chief executive officer Bernard Looney dramatically resigned after admitting he had not been “fully transparent” about personal relationships he had maintained with colleagues. Following a review into the circumstances around his alleged misconduct, BP released a statement last week outlining the subsequent decisions the board had made in relation to Looney’s remuneration, as well as concluding that he had indeed “knowingly misled the board” when it came to the omissions. As a result, BP added in the statement, that it expects to claw back a maximum £32.4 million from Looney that will primarily consist of unvested share awards and bonus awards.
