BP abruptly removed Chairman Albert Manifold on Tuesday, citing "serious concerns" tied to governance, oversight and conduct issues, sending shares lower and deepening uncertainty at the oil giant.
The company said Manifold, who had served as chairman for just eight months, was removed effective immediately after the board unanimously concluded he should no longer remain in the role.
"This follows serious concerns raised to the board related to important governance standards, oversight and conduct," BP said in a statement, without providing additional details.
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