John Browne resigns from BP

John Browne resigned as CEO of BP on May 1, immediately following the release of court documents showing that he had lied about the circumstances under which he had initiated a personal relationship with a 27-year old named Jeff Chevalier. The court case involved Browne’s attempt to block publication of details of that relationship and allegations of improper business conduct that Chevalier had sold to a British tabloid newspaper.

According to a statement by BP chairman Peter Sutherland, Browne had earlier informed the company of the allegations of business misconduct and that a company review had concluded that the allegations were “unfounded or insubstantive.”

“The Board of BP has accepted John’s resignation with the deepest regret,” BP chairman Peter Sutherland said. “For a chief executive who has made such an enormous contribution to this great company, it is a tragedy that he should be compelled by his sense of honor to resign in these painful circumstances.”