BP plc, the London-headquartered oil and gas supermajor, removed its chairman, Albert Manifold, with immediate effect on 26 May. The company's board acted unanimously. The official stated reason: 'serious concerns' about governance, oversight, and conduct, including allegations of bullying behaviour.
BP has spent the past two years trying to steady itself financially and strategically, narrowing its focus back toward oil and gas production after a period of aggressive investment in renewables drew sustained criticism from shareholders. The last thing BP's board needed was a crisis at the very top of its own governance structure.
