Albert Manifold ousted as BP chair over governance and conduct concerns

Albert Manifold has been ousted as chairman of BP amid serious governance and conduct concerns, leading to a significant drop in BP's stock by over 4 percent in both US and UK markets. This decision comes just eight months into his tenure, highlighting potential internal issues within the company.

The removal of Manifold raises critical questions about BP's governance standards and oversight practices, particularly as it navigates a challenging market environment and shareholder expectations.

This incident reflects ongoing tensions within BP, as the company has faced shareholder rebellions over climate policies and governance practices, indicating a broader struggle for accountability and transparency in corporate leadership.