BP chief Brown resigns over scandal

John Browne, chief executive of British energy giant BP, quit his job Tuesday after a newspaper group won a legal battle to publish details of his relationship with another man.

BP chief Brown resigns over scandal
John Browne, chief executive of British energy giant BP, quit his job Tuesday after a newspaper group won a legal battle to publish details of his relationship with another man.

"Browne tendered his resignation after the lifting by the UK courts of a legal injunction preventing a newspaper group from publishing details of his private life," the group said.

BP chairman Peter Sutherland described Browne's decision to quit as a "tragedy."

Browne, 59, revealed in the statement that in initial witness statements, he had lied about how he met Canadian Jeff Chevalier, his former partner of four years.

"This account, prompted by my embarrassment and shock at the revelations, is a matter of deep regret. It was retracted and corrected. I have apologised unreservedly, and do so again today," Browne added.

One British newspaper said on its website that Browne may now face a charge of perjury, and possibly jail.

Browne's sudden departure comes as BP seeks to restore investor confidence after a traumatic two years, during which time a fatal explosion at its Texas City refinery in the United States left 15 people dead.

BP said that as a result of his decision to resign, Browne would lose his entitlement to a leaving package worth 3.5 million pounds (5.15 million euros, 7.0 million dollars) and a potential 12 million pounds worth of shares.

Browne failed to prevent Associated Newspapers publishing a story about his relationship with Chevalier.
Last Mod: 02 Mayıs 2007, 14:21
Add Comment