Albert Manifold's unexpected departure from BP has sparked controversy as he disputes the board's claims regarding his conduct. In a statement to CNBC, he expressed that he was removed 'without warning and without explanation' and rejected the characterization of his behavior, which reportedly included aggressive interactions with colleagues.
BP's board, led by senior independent director Amanda Blanc, expressed surprise and disappointment over the governance issues that led to Manifold's removal, emphasizing the importance of maintaining high standards. Manifold, who had only served as chairman for about seven months, previously held a prominent position at CRH, a major building materials company.
His dismissal has prompted renewed scrutiny of BP's governance practices, and the company's shares fell by 1.7% following the news, indicating potential investor concern over the stability and leadership within the organization