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BP stock falls after chair removal

BP stock fell 5.2% after the board removed Chair Albert Manifold due to governance issues.

Aria Wright
ByAria Wright- Senior Editor
|
0
BP stock falls after chair removal
Photo: Prepared by Bond.az

BP shares dropped 5.2% in premarket trading Tuesday after the board immediately removed Chair Albert Manifold over governance concerns.

The board cited serious issues with governance standards, oversight, and conduct. Ian Tyler was appointed Interim Chair.

Senior Independent Director Amanda Blanc said the board acted decisively. Tyler stated confidence in the company's strategic direction.

A succession process for a permanent chair will begin. No further details on the governance issues were provided.

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BP stock falls after chair removal | Bond.az