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BP's ousted chairman Manifold clashed with director over deal talks, WSJ reports
BP said the board acted unanimously after a serious complaint, and investors say the leadership shake-up should not change the turnaround plan.
- On Tuesday, BP ousted Chairman Albert Manifold, citing serious concerns about his governance standards, oversight, and professional conduct.
- The Wall Street Journal reported on Friday that Manifold clashed with director Simon Henry earlier this year over handling sensitive negotiations for a potential deal.
- Manifold privately accused Henry of overstepping his authority and excluding other directors from communications, though Henry denied the allegations, arguing that Manifold was "mischaracterizing conversations."
- Following his removal, Manifold claimed he was dismissed without warning and disputes the characterization of his conduct, while BP did not immediately respond to requests for comment.
- Past tensions between Manifold and CEO Murray Auchincloss, alongside the departure of other directors, occurred during broader board instability as the board shrank under his chairmanship.
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BP Boardroom Tensions: A Tale of Power and Governance
BP's ousted chairman, Albert Manifold, reportedly had a conflict with director Simon Henry over sensitive negotiations. Manifold was dismissed due to concerns over governance and conduct, which he disputes. The disagreements also involved former CEO Murray Auchincloss and led to board changes. BP didn't comment on the matter.
·India
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Coverage Details
Total News Sources13
Leaning Left0Leaning Right3Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
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