"Report Who You're Close With and Who You've Dated"…Chaos Over Oil Major's Directive

Former CEO Resigns Over 'Personal Relationship' Scandal
All Managerial Positions to Disclose 'Human Relationships'
Some Criticize as "Unrealistic Policy"

British BP, one of the world's seven major oil and gas companies, has attracted attention by announcing a new clause regulating 'office romances.' Previously, Bernard Looney, who served as BP's CEO until last year, was dismissed for failing to transparently disclose 'personal relationships' with former colleagues.

Local foreign media, including the UK business outlet City AM, reported on the 11th (local time) that BP has strengthened its policy on office romances. The new policy does not ban office romances but requires middle management and above to 'disclose all intimate relationships within the workplace' going forward.

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This clause was established following the resignation of former CEO Looney in September last year. Looney had personal relationships with some colleagues but did not disclose them transparently, facing criticism for violating the company's conflict of interest management principles. Subsequently, shareholders opposing the 'Looney scandal' demanded his dismissal, and Looney eventually resigned voluntarily.

During the Looney scandal, BP faced a difficult period both internally and externally. On the day Looney's resignation was decided, the stock price dropped nearly 1.3% in a single day. As of the closing price on the 12th, BP's market capitalization on the London Stock Exchange stood at ?77.4 billion (approximately 136 trillion KRW), down about 13% compared to the end of September last year.

BP, one of the world's largest oil majors, employs thousands of managers and senior executives worldwide, including at its UK headquarters. Going forward, these individuals must disclose all 'intimate relationships' they have had with other employees within the past three years. Additionally, managers who are in office romances will be prohibited from directly or indirectly managing those employees.

BP is one of the world's seven major oil and gas companies and ranks as the second-largest resource company in the UK, following Shell.
[Image source=AP Yonhap News]

Local legal experts pointed out that relationships between employees in the workplace can cause various issues. James Green, a director at a major UK law firm, told City AM, "When an employee is promoted to a senior management position, they realize that their position may conflict with their personal relationships in terms of career, task assignments, and personnel management."

However, he noted that completely banning workplace relationships is inefficient and unrealistic. He said, "Human relationships are inherently complex," and "treating them like HR policies may not be appropriate."

He added, "Organizations should carefully consider before officially requiring managers to disclose all personal relationships."

Another lawyer viewed BP's new policy as significant in clarifying "how employers can affect perceptions of conflicts of interest, confidentiality, and fairness in the workplace."