Oil giant BP has removed its chairman Albert Manifold over “serious concerns” related to “important governance standards, oversight, and conduct”.
Senior independent director Amanda Blanc said the board had been “surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action”.
Manifold had been in the position less than a year. Shares slumped 4% following the news of his removal.
Ian Tyler has been appointed interim chair with immediate effect.
