BP Chair Ousted Amid Controversy: Albert Manifold Speaks Out
- BP's board removed Chairman Albert Manifold on Tuesday with immediate effect, citing 'serious concerns' related to his conduct, oversight and governance, triggering a 10% decline in the company's share price.
- Shareholder dissent had mounted against Manifold, with nearly a fifth voting against his election a month prior, after shareholder advisory group Glass Lewis called for votes against him over governance concerns.
- On Wednesday, Manifold disputed the board's account, stating he was 'removed without warning and without explanation' and declaring 'I dispute entirely the characterisation of my conduct and will not allow a false narrative to go unchallenged.'
- Ian Tyler assumed the interim chairman role as Amanda Blanc, senior independent director, stated the board had 'taken decisive action' following the discovery of governance issues deemed unacceptable.
- The 10% share price drop reflects investor concerns about BP's governance stability as the company navigates a permanent chairman search amid the public dispute over Manifold's contested dismissal.
12 Articles
12 Articles
Glasgow Times
Ousted BP chairman hits back at ‘false narrative’ over conduct
Mr Manifold said he ‘entirely’ disputes the characterisation of his conduct laid out by his former employer.
BP’s former president, Albert Manifold, claims that he was fired without prior notice or explanation and that he will challenge the company’s version of events, exacerbating the turmoil surrounding the British oil company’s latest change of leadership. BP dismissed Manifold this Tuesday after eight months in office, citing serious concerns related to “rules of governance, oversight and conduct.” Continue reading
Yesterday we already wrote in this blog that British BP Chairman Albert Manifold has been dismissed with immediate effect, due to “serious concerns” surrounding…
Sacked BP chairman hits out at ‘false narrative’
Albert Manifold said he was removed without any warning or explanation. (Business & Finance pic) LONDON: Albert Manifold hit out after being sacked as chairman of British energy giant BP, saying that he would “not allow a false narrative to go unchallenged”. “I dispute entirely the characterisation of my conduct,” he said in an emailed statement to the Financial Times and other financial media, one day after BP unexpectedly removed him after les…
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