BP Dismisses Chairman Amid Governance Concerns; Interim Chair Appointed

BP has removed its chairman, Albert Manifold, less than a year after his appointment due to serious concerns regarding governance standards and conduct. The board's unanimous decision comes as BP's shares fell by 5.9% in London following the announcement. Amanda Blanc, a senior independent director, expressed disappointment over the issues leading to Manifold's dismissal. Ian Tyler has been appointed as the interim chair while the company searches for a permanent replacement. The situation highlights ongoing challenges in corporate governance within major companies.

Key Details: • Albert Manifold was appointed chairman on October 1, 2022. • BP's shares dropped by 5.9% following the announcement. • Ian Tyler is the interim chair effective immediately.