business / news / / The Telegraph
Just weeks ago, BP reported first-quarter profits of $3.2bn (£2.4bn) BP’s historically sluggish share price jumped 3pc on the back of the news.
BP ousted chairman Albert Manifold after only eight months due to allegations of bullying.
KEY POINTS
- Manifold’s exit wiped over £3bn off BP’s share price and reignited crisis concerns.
- BP is now on its third chairman since 2020 and fifth chief executive, underscoring leadership instability.
- Meg O’Neill, BP’s new external CEO, has reversed the renewables-focused strategy and reinstated upstream/downstream structure.
- Manifold was a major force behind BP's recent retreat from its low-margin renewables business.
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