BP CEO Bernard Looney has resigned after admitting that he had not been “fully transparent” about “historical relationships with colleagues,” according to a statement from the oil giant on Tuesday.

In the interim, Murray Auchincloss, the company’s CFO, will serve as CEO.

As part of its review of allegations relating to Mr Looney’s conduct with respect to his personal relationships with co-workers in May 2022, the Board consulted external legal counsel. According to the statement, the information came from an anonymous source. The review found that Looney had “a small number of historical relationships with colleagues prior to becoming CEO,” but that there was no violation of the company’s code of conduct.

Recently, BP said, it received additional allegations of a similar nature, which led it to begin an investigation.

“Mr Looney today informed the Company that he now accepts that his previous disclosures were not fully transparent,” the statement said. His disclosure was not complete and he accepts that he should have been more thorough.

Looney served just under four years at the helm of BP (BP), having joined the London-based oil and gas company in 1991 at the age of 21. As chief executive officer for BP, Looney oversaw efforts to transition into an integrated energy company with a focus on emissions reductions.