Summary
BP removed its chairman, Albert Manifold, over serious concerns about governance and conduct. Ian Tyler was named interim chair as BP begins the search for a permanent leader.Key Facts
- BP fired its chairman due to serious issues with governance and conduct.
- Albert Manifold became chairman in 2022 and was removed in 2023.
- Ian Tyler was appointed as interim chairman immediately after Manifold’s exit.
- BP is one of the world’s five largest oil companies and operates in about 60 countries.
- The company once planned to focus more on renewable energy but abandoned that plan last year.
- BP has faced troubles recovering from the 2010 Deepwater Horizon oil spill, which caused deaths and large environmental penalties.
- BP’s stock price dropped 6% before the New York Stock Exchange opened after news of the chairman’s removal.
- There were past rumors that Shell might buy BP, but Shell denied those reports.
