BP (BP) Removes Chairman Amid Governance Concerns, Shares Fall 4%

AI Summary

BP (BP) has removed its chairman Albert Manifold over serious concerns regarding governance standards and conduct. Following this news, shares dropped by 4%. Manifold held the position for less than a year, having joined BP as a non-executive director in September 2025. Additionally, BP reported profits of $3.2 billion between January and March due to strong performance in its oil trading business. The immediate appointment of Ian Tyler as interim chair aims to address the governance issues raised.