BP removes chairman over 'serious' conduct concerns
The board of oil major BP has removed its chairman over 'serious' conduct concerns. Senior independent director Amanda Blanc said the board was 'surprised and disappointed' to learn of the issues. BP shares fell after the news.
The board of oil major BP said it had removed its chairman over 'serious' conduct concerns. Senior independent director Amanda Blanc told the BBC that the board had been 'surprised and disappointed' to learn of the issues, and said the decision to remove him was taken unanimously.
The move marks fresh governance turmoil for BP, which has been under investor pressure in recent years amid shifts in strategy and leadership. BP shares, listed in London, fell after the announcement.
BP did not publicly detail the nature of the conduct concerns and has not yet named a successor, saying interim arrangements are being considered. This article is for information only and is not investment advice.
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