BP bosses face summer of love disclosures

BP Plc (LSE:BP) has reportedly implemented stricter regulations on workplace relationships, as it revises HR rules following the dismissal of former CEO Bernard Looney for not disclosing relationships with colleagues.

Senior managers at BP are now required to report any intimate relationships that have occurred within the past three years, and, failure to comply with these new rules may result in disciplinary action.

A BP spokesperson noted, via press reports, that the updated approach is backed by “benchmarking” with comparable companies and organisations and review of good industry practice.

Around 4,500 managers have been asked to disclose any reportable relationships by September 1, regardless of whether they believe these relationships pose a conflict of interest.

The former CEO, Bernard Looney, resigned last September and subsequently he ‘lost’ a £32 million remuneration package.