BP's Leadership Turmoil: Chair Albert Manifold Ousted

BP has abruptly ousted its Chair, Albert Manifold, due to governance and conduct issues. Allegations of aggressive behavior led to the unanimous board decision. This marks another upheaval in BP's top leadership amid strategic shifts back to oil and gas. Elliot hedge fund, a significant BP stakeholder, supported this decision.

BP has made a decisive move by removing Chair Albert Manifold, citing serious governance and conduct concerns. Sources claim Manifold displayed aggressive behavior towards colleagues, prompting the board's unanimous decision.

This development is the latest in a series of leadership challenges for BP, following previous abrupt departures, including CEO Murray Auchincloss. Manifold's exit follows the firing of Bernard Looney for misleading the board about personal relationships.

Amid these changes, BP's focus pivots back to oil and gas. Shares plummeted almost 10% post-announcement, highlighting the financial market's response to the leadership instability.