&w=1200&q=75)
BP Chairman Albert Manifold Removed Amid Governance Issues
BP removes chairman Albert Manifold, citing 'oversight and conduct' issues
Image: Cnbc
BP's board has removed Chairman Albert Manifold immediately due to governance oversight and conduct issues. The decision follows a unanimous vote, with shares of the company falling 9% in response to the announcement.
- 01The board of BP unanimously decided to remove Albert Manifold as chairman.
- 02The removal was due to governance oversight and conduct issues deemed unacceptable.
- 03Amanda Blanc, BP's senior independent director, acknowledged Manifold's contributions to the company's transformation.
- 04Shares of BP dropped by 9% following the announcement of Manifold's removal.
- 05This decision reflects the board's commitment to maintaining high governance standards.
Advertisement
In-Article Ad
The board of BP, a major British energy company, has removed Chairman Albert Manifold effective immediately, citing serious governance oversight and conduct issues. Amanda Blanc, BP's senior independent director, expressed that while Manifold contributed positively to the company's transformation, the board was surprised and disappointed by the unacceptable issues that led to this decision. Following the announcement, BP's shares fell by 9%, indicating investor concern over the company's governance practices. This decisive action underscores BP's commitment to uphold high standards of corporate governance and accountability.
Advertisement
In-Article Ad
The removal of Albert Manifold as chairman may affect BP's stock performance and investor confidence.
Advertisement
In-Article Ad
Reader Poll
What do you think about BP's decision to remove its chairman?
Connecting to poll...
More about BP
Read the original article
Visit the source for the complete story.