BP on Tuesday abruptly ousted its chairman, citing “serious” governance and conduct concerns.
Albert Manifold had taken his post at the British oil major just months ago, with plans to accelerate the company’s turnaround following years of turmoil. Bloomberg reported there had been complaints of Manifold showing aggressive behavior toward employees and mishandling sensitive information.
BP has had three CEOs in as many years, and recently pivoted away from renewables and back to the core business of oil and gas. The company’s stock has risen this year as it saw a windfall from the Iran war, but shares fell Tuesday on news of the boardroom chaos.