BP CEO Looney Quits Over Past Relationships With Colleagues

(Bloomberg) — BP Plc Chief Executive Officer Bernard Looney has resigned with immediate effect over the failure to fully disclose past relationships with colleagues.

Most Read from Bloomberg

He will be replaced on a interim basis by Chief Financial Officer Murray Auchincloss, the company said in an emailed statement on Tuesday.

The surprise development leaves BP leaderless at a crucial juncture, when the oil and gas giant is trying to persuade investors to stick with it through a costly…