BP removes chair over ‘serious’ conduct, oversight, and governance concerns

• BP has removed Albert Manifold as its chair with immediate effect due to "serious concerns" regarding his conduct, oversight, and governance.
• The oil giant's board “unanimously” decided on his ousting, though specific details of the issues have not been disclosed.
• Mr Manifold had only joined BP in October, and his removal follows almost a fifth of shareholder votes being cast against his election a month prior, partly due to governance concerns raised by Glass Lewis.
• Following the announcement, BP's shares dropped by as much as 6 per cent.
• Ian Tyler has been appointed as interim chair, and the company has initiated a search for a permanent replacement.

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