business / news / / The Sunday Times
Almost £4 billion was wiped off BP’s market value after the company ousted its chairman amid allegations over his conduct.
BP chairman Albert Manifold was dismissed after only eight months due to governance and conduct concerns.
KEY POINTS
- BP's market value fell by nearly £4 billion following Manifold's abrupt ousting.
- The exact reasons for Manifold's dismissal remain undisclosed, with BP refusing to comment on bullying allegations.
- Manifold's removal disrupts investor confidence, as he was seen as pivotal to BP's strategic turnaround.
- BP is now on its third chairman and third CEO in under three years, highlighting ongoing leadership instability.
COMPANIES
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