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Last Updated: Thursday, 10 May 2007, 22:34 GMT 23:34 UK
Lord Browne quits Goldman Sachs
BP chief Lord Browne
Goldman commends Lord Browne's "extraordinary business acumen"
Lord Browne of Madingley has resigned as a director at Goldman Sachs.

The move follows his resignation as chief executive of oil giant BP amid revelations he lied to a court over how he had met a gay partner.

Lord Browne had been on the board of directors at the investment bank since 1999 and served as the chairman of the audit committee, among other roles.

Goldman Sachs chief executive Lloyd Blankfein said Lord Browne had made an "enormous contribution".

"Lord Browne has made an enormous contribution to Goldman Sachs and our culture of teamwork, excellence and client service," said Mr Blankfein.

"His ability to identify and deal with the important issues affecting our business and our people has helped guide this institution since we became a public company," he added.

Lord Browne has made an enormous contribution to Goldman Sachs and our culture of teamwork, excellence and client service
Lloyd Blankfein
Goldman Sachs chief executive

Lord Browne remains chairman of the advisory board of US private equity firm Apax Partners.

Private life

Lord Browne's career spanned 41 years at BP, where he was feted for building the company up into one of the world's biggest oil giants.

He was due to retire in the summer, but quit to save the company from embarrassment after a newspaper won a court battle to print details of his private life.

At the time, Lord Browne confirmed he did have a relationship with Canadian Jeff Chevalier who sold his story to Associated Newspapers - owners of the Mail on Sunday.

But he "denied categorically" allegations that he misused BP resources to support Mr Chevalier.


VIDEO AND AUDIO NEWS
Lord Browne leaves work at BP for the last time



SEE ALSO
BP chief executive Browne resigns
01 May 07 |  Business
Profile: Lord Browne
01 May 07 |  Business
Does the UK have a 'pink plateau'?
02 May 07 |  Business
'Perjury' threat for ex-BP boss
02 May 07 |  Business
BP investors back Browne payout
12 Apr 07 |  Business
BP boss 'should have payoff cut'
11 Apr 07 |  Business
Higher safety costs hit BP profit
06 Feb 07 |  Business

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