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Tue, May 26, 2026 at 11:28 AM EDT
Trade BP on Coinbase Trading disclosure STORY: BP removed Chair Albert Manifold with immediate effect on Tuesday.The oil giant cited governance standards, oversight and conduct issues.The move comes just months after Manifold’s appointment to oversee a strategy revamp. And his sudden departure follows scandal and repeated leadership changes at BP – with five CEOs since 2020. A former BP CEO Bernard Looney was fired less than three years ago after lying to the board about personal relationships with colleagues.And his successor Murray Auchincloss left abruptly in December, without a reason being announced. During his tenure, Manifold oversaw the appointment of CEO Meg O’Neill to shift the company’s focus back to oil and gas. And while a senior independent director welcomed this new direction, she said “the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable”.A BP spokesperson declined to give further details and Reuters couldn’t immediately reach Manifold for a comment.BP shares were down almost a tenth after the announcement but they later pared some losses to trade down nearly 5%.