BP CEO Outed As Gay, Steps Down

LONDON, UK -- CEO of UK oil giant BP, Lord John Browne of Madingley, has resigned with immediate effect after courts in the revoked an injunction that curtailed a newspaper from publishing details of his personal life.

Browne, who had already moved up his departure by more than a year and was planning to step down in July, denied any improper conduct relating to BP but said he had decided to leave now to "avoid unnecessary embarrassment and distraction to the company."

He did, however, acknowledged that he had lied to a judge about how he met his former partner, Canadian citizen Jeff Chevalier, with whom he had a four-year relationship.

Browne said he regretted the lie, saying he was in shock at his private life being exposed. While he had quickly retracted this "untruth," a BP source said it was this that made Browne feel compelled to resign.

"In my 41 years with BP I have kept my private life separate from my business life," Browne said in a statement on Tuesday.

"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," he added.

According to Pink News, "Lord Browne, 59, met Mr Chevalier in 2002, and over the next four years provided him with a life of luxury, including paying for his accommodation, clothing and extensive international travel. Browne also paid substantial sums of money to Mr Chevalier, and paid for a university course so that he could stay in the UK."

Browne said allegations in court documents disclosed on Tuesday were "full of misleading and erroneous claims.

BP Chairman Peter Sutherland said Browne had told the company of allegations over the limited use by Chevalier of BP computer and staff resources.

"At John's explicit request, the board instigated a review of the evidence. That review concluded that the allegations of misuse of company assets and resources were unfounded or insubstantive," Sutherland added in the statement.

Browne will also be hit financially as a result of his early resignation and may stand to loose millions of pounds in lost bonuses and share plans.