Rolling coverage of the latest economic and financial news
Shares in oil company BP are still falling today, down 0.9%, after the company told investors yesterday that it had removed its chair Albert Manifold over “serious” governance and conduct concerns.
Manifold told Bloomberg News last night that he was fired without warning or explanation, and would challenge the company’s version of events.
I was removed without warning and without explanation. During my time as chairman I worked to drive genuine change at BP – cutting costs, challenging excess, and holding the organisation to higher standards. The board’s statement [yesterday] acknowledged the focus and pace I brought. I dispute entirely the characterisation of my conduct and I will not allow a false narrative to go unchallenged.”
Continue reading...
