BP chair ouster sparks clash over governance accusations
TL;DR
Former BP chairman Albert Manifold says he was removed without warning and disputes the board’s characterization of his conduct, after BP cited serious concerns about governance, oversight and conduct. Manifold, in office for about seven months, faced a recent shareholder revolt at BP’s AGM amid the company’s pivot back to oil and gas under Meg O’Neill. Activist groups are calling for a full, transparent account of the governance issues as BP shares traded lower on the news.
Topics:top-newsbusiness#activist-investors#albert-manifold#board-leadership#bp#business#corporate-governance
- BP's ousted chairman Albert Manifold disputes accusations over his conduct CNBC
- BP Removes Chairman After Concerns About Bullying Behavior WSJ
- BP’s Latest Screwup Is Outweighed by Its Hedge Fund Backer Bloomberg.com
- Inside BP’s boardroom ‘bullying’ scandal Financial Times
- BP’s board snatches defeat from the jaws of victory Reuters
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