BP architect Browne quits as gay affair publicised

By Tom Bergin

LONDON (Reuters) - John Browne, the architect of BP's renaissance as a giant of the global oil industry, stepped down early on Tuesday after details of a homosexual affair were exposed to the full glare of publicity.

Following a four-month legal battle conducted in private, in which the BP chief executive had sought court orders to prevent newspapers printing details of his private life, the courts lifted an injunction on publication.

In a personal statement, Browne acknowledged he had had a four-year relationship with Canadian citizen Jeff Chevalier and said he had given an "untruthful account" about how he met him.

He denied allegations of any improper conduct relating to BP but said he had decided to go to avoid unnecessary embarrassment and distraction to the company.

The episode marks a sad end to the career of one of the most admired businessmen of his generation, and one who spent his entire working life at BP.

His early departure -- he had been due to step down at the end of July -- will also cost him dear financially.

He loses his agreed entitlement to a year's notice including a bonus of up to 1.3 times his annual salary, worth more than 3.5 million pounds, and also foregoes inclusion in a long-term performance share plan with a maximum potential value of some 12 million pounds.

LASTING LEGACY