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LONDON — British energy major BP
suffered a shareholder revolt at its annual general meeting on Thursday, following a tense clash with investors over corporate governance and climate transparency.
BP failed to get majority shareholder approval on two highly anticipated motions, which would have permitted online-only AGMs and retired two company-specific climate disclosure obligations. Each resolution required a 75% vote in favor to pass.
A majority of 81.8% voted in favor of electing Albert Manifold as chair, a resolution that has been in sharp focus following the board’s move to block a proposal put forward by Dutch activist group Follow This.
