BP removes chairman Albert Manifold, citing ‘oversight and conduct’ issues
The board of British energy major BP on Tuesday announced it had unanimously decided to remove Chairman Albert Manifold with immediate effect, citing governance oversight and conduct issues.
“Albert has helped bring a welcome focus and pace to bp’s transformation,” Amanda Blanc, senior independent director at BP, said in a statement. “However, the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action.”
London-listed shares of BP were last seen down 9% on the news.
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