Earlier this week, Lord John Browne, former CEO of BP ended his 41-year association with the company. When Browne was appointed chief executive in 1995, BP was a mess. He not only led the company through difficult times with cost cutting, but took them to the pinnacle of the oil industry with acquisitions (Amoco / Arco) and creative partnerships in the developing world (Russia). In 1995, the split-adjusted price was about $15 per share and now it’s hovering around $70. Dividends have had similar growth during his tenure. The guy was and still is a superstar and the reasons for his departure do not change any of that. Unfortunately, it was not environmental accidents or poor financial performance that caused his resignation, it was personal. Browne is gay and despite his decades long effort to keep his personal life out of BP business, he lied to a judge about how he met his former partner. While lying to a judge is not good, having to answer these questions in the first place was ridiculous. Some in the media have suggested that he is in trouble due to the perjury. That may be true but first things first - he was only in court because he is gay. I doubt there would have been a story if he was hetero and I doubt he would have lied to cover for an affair with a woman. He was afraid that his sexuality would cause a problem for him and the company he loved, and he was right. Being a success is difficult…being a successful CEO who happens to be gay is even tougher. BP is worse off without his guidance.