Oil giant BP abruptly ousts chairman Albert Manifold over ‘conduct’
BP has removed chairman Albert Manifold due to serious concerns regarding governance and conduct. His departure was unexpected, as he had only been in the role for a year. Ian Tyler has been appointed as the interim chair while the company searches for a permanent replacement.
- ▪BP ousted chairman Albert Manifold over governance and conduct issues.
- ▪Manifold had been in the position for just one year before his removal.
- ▪Ian Tyler has been named interim chair while a search for a permanent chair begins.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountBP BP-N has ousted chairman Albert Manifold over what it called serious concerns related to “important governance standards, oversight and conduct.” The departure was abrupt and unexpected, with Manifold having been appointed to the position just last year.BP’s board named Ian Tyler as interim chair on Tuesday, effective immediately.The company said that it will begin the process of finding a permanent chair.BP, based in London, is a “supermajor,” one of the five largest oil production and exploration companies in the world by revenue and profit.The company maintains operations in about 60 countries.Shares tumbled 6 per cent before the opening bell on the NYSE.
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