38 minutes ago
By Hanna Ziady, CNN
BP has had several difficult years, marked by flip-flops on strategy and leadership instability.
BP said Tuesday it had dismissed its chairman Albert Manifold after less than a year in the role, citing "serious concerns" about "governance standards, oversight and conduct."
The oil giant declined to provide further details about the alleged failings related to governance and conduct when contacted by CNN, but said the board's decision to remove Manifold was unanimous. BP's shares fell as much as 9 percent in London immediately following the announcement, before paring losses to trade 4.4 percent lower at £5.27 (NZ$12.13) per share.
