BP CEO resigns immediately. (DC Madam connection?)

[kstewart33]

Source: Wall Street Journal

Shown at the top of the WSJ home page:

BREAKING NEWS:
BP CEO Lord Browne resigns immediately amid revelations about his personal life. Previously named successor Tony Hayward assumes post. Full story to follow shortly.

Read more: http://www.wsj.com

[no_hypocrisy]

1. Why am I cynical enough to think that Tony Hayward made the "secret"

phone call to the press about a possible DC Madam connection (so to speak)?

[coffeenap]

2. Maybe..but see this thread:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2829549

[maddezmom]

3. wow, and another one from your link: Freddie Mac President McQuade Announces He Is Stepping Down

Freddie Mac President McQuade Announces He Is Stepping Down
By Damian Paletta
Word Count: 436 | Companies Featured in This Article: Freddie Mac
WASHINGTON -- Freddie Mac President and Chief Operating Officer Eugene McQuade, expected to become the mortgage purchaser's chief executive officer later this year, announced Tuesday that he was stepping down Sept. 1, the company said.

The move was surprising because Mr. McQuade was long seen as the future successor to Freddie Mac Chairman and CEO Richard Syron.

People familiar with the matter have said other financial institutions had been courting Mr. McQuade, a former top executive at FleetBoston Financial Corp., to lead their companies, but no public statements ...

K&R

[underpants]

6. If this is true-How could she not get cover with all these connections?

She has to be the worst Madam in the history of the world.

[maddezmom]

7. I'm not sure either one is related to the DC Madam

:)

[Virginia Dare]

22. She actually did cover herself very well..

how she got caught out was that the boyfriend of one of her "ladies" found out what his girlfriend was doing, got pissed off, and ratted her out to the IRS. The IRS will get you every time!!!

[MaineDem]

4. BP's been in trouble for a while

In fact, I thought I heard yesterday that he was resigning. :shrug:

I could be wrong.

[maddezmom]

10. read the link below, not the DC Madam

http://www.ft.com/cms/s/c31756a0-f7f4-11db-baa1-000b5df10621.html

[Purveyor]

5. Statement from BP running on the Financial Times:

The statement issued by BP after the resignation of Lord Browne as chief executive

Following a decision taken today by Lord Browne to step down as the company’s chief executive officer, the Board of BP plc has appointed his designated successor, Dr Tony Hayward, as new CEO with immediate effect.

Lord 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.

Lord Browne said: ”In my 41 years with BP I have kept my private life separate from my business life. I have always regarded my sexuality as a personal matter, to be kept private. It is a matter of deep disappointment that a newspaper group has now decided that allegations about my personal life should be made public.

”Concerning the court documents disclosed today, I wish to acknowledge that I did have a four-year relationship with Jeff Chevalier who has now chosen to tell his story to Associated Newspapers, publishers of The Daily Mail, Mail on Sunday and Evening Standard.

---eoe---

http://www.ft.com/cms/s/c31756a0-f7f4-11db-baa1-000b5df10621.html

[HereSince1628]

9. A matter of "sexuality" well, what could be the problem?

Surely not heterosexuality. Having an extra-marital heterosexual affair would bring a challenge of zipper control, not sexuality.

[Judi Lynn]

11. There's an article which indicates there are overlapping areas between his private and business

lives.

BP chief resigns after lying over affair with gay lover
01.05.07

~snip~
Mr Chevalier alleges in his court witness statement:

• BP resources were diverted for Mr Chevalier's use, and he was given computers and technical support staff while a company was set up for him involving BP personnel

• A senior member of BP staff was tasked with running personal errands for Lord Browne, including delivering cash to his former lover.

• The BP chief paid for Mr Chevalier's studies, as well as a large sum over their four years together.

• Browne discussed EU policy and Chinese textile quotas with Peter Mandelson, the EU commissioner, and Mandelson's Brazilian boyfriend Reinaldo.

• A flat in Venice bought by Lord Browne underwent repairs for which the building company presented two bills, one with VAT and one without. Mr Chevalier claimed Lord Browne paid cash to "dodge" his tax bill.

• Twice, Lord Browne visited Colonel Gaddafi in Libya with either a secret service agent or a former agent for protection.
(snip/...)

http://www.thisislondon.co.uk/news/article-23394621-details/BP%20chief%20lied%20over%20affair%20with%20gay%20lover/article.do

(Not familiar with this publication.)

[swimboy]

12. This resignation should provide Paul Wolfowitz with a model to follow.

He seems to have walked a similar, albeit heterosexual, path.

[Lone_Star_Dem]

15. If true this would explain his resignation

Originally I thought there was going to be a connection to their cost cuts being linked to the Prudhoe Bay oil spill. I should have know that was not the case however.

[closeupready]

21. If true, these allegations seem small-time to me.

n/t

[robinlynne]

8. I doubt she had hookers in britain... kind of far away, don't you think?

[The Backlash Cometh]

13. What can I say?

What are we going to tell the children?
:rofl:

[Ian David]

14. BP CEO Lord Browne has resigned to spend more time spilling oil on his own family. n/t

[peacebird]

16. gay lover according to MSNBC

http://www.msnbc.msn.com/id/18416862/

[Ghost Dog]

17. Also according to The Guardian (& lies to the Court):

http://business.guardian.co.uk/story/0,,2069894,00.html

Lord Browne stepped down as chief executive of BP with immediate effect this afternoon.

He tended his resignation after the House of Lords lifted an injunction that prevented a newspaper group from publishing details of his private life.

Lord Browne will forfeit his entitlement to a year's notice, and a bonus worth more than £3.5m. He will also miss out on a long-term share plan that could have generated £12m over the next two years.

...

Today's ruling came after Lord Browne fought a long-running battle to prevent publication of details about his relationship with another man, Canadian Jeff Chevalier, who had been his partner for four years.

In today's ruling, Mr Justice Eady said that the chief executive had admitted he had lied to the courts over the circumstances of his meeting with Mr Chevalier, when an injunction was originally granted, in January.

/..

[muriel_volestrangler]

20. Details of the relationship in the linked Guardian story; they met on a male escort website

Lord Browne's relationship with Mr Chevalier began in 2002. He falsely told the court they first met while exercising in Battersea park, south London, but the real initial meeting and the reason for Lord Browne's untruth were not detailed in the judgment.

From then until 2006, Mr Justice Eady recounted, "Mr Chevalier adopted the claimant's lifestyle and was provided by him with food, travel, clothes and accommodation at a fairly luxurious level", as well as receiving "substantial payments".

With Mr Chevalier's British visa due to run out, Lord Browne helped him become a student and set up a mobile phone ring-tone company.

However, when the relationship ended, the Canadian found himself back home and "having to adjust to a drastically reduced lifestyle", despite Lord Browne paying for a year's lease on a flat.

http://business.guardian.co.uk/story/0,,2069999,00.html

In fact they had met on a male escort website.

The judge also pointed out that Lord Browne had attempted to “trash” Mr Chevalier's credibility by painting him as a liar, unstable, and adversely affected by dependence on alcohol and illegal drugs – but then could not furnish evidence, other than the claim of his butler that his wine stocks were diminishing.

The painful irony for Lord Browne is that BP has investigated Mr Chevalier's claim that he misused company resources and property and has dismissed them.

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2007/05/brownes_tragic_lie.html

[aquart]

18. Please tell me Gonzales and Wolfowitz are on that list.

Oh, hell. It won't matter. They still won't go.

[northzax]

19. he's gay

it has been a relatively open secret, he just doesn't want it in the tabloids. a former lover sold his story to the tabloids, Lord Browne sued to stop publication, and when he lost, chose to retire rather than deal with it.

on edit: I should make it clear that the courts ruled that Lord Browne at least mislead the courts at the time of the injunction, and at worst, lied about the use of company funds for Mr. Chevalier's use.