Governance issues have struck again at UK major BP, which will soon have its third full-time board chair, alongside its third CEO, in under three years. However, the abrupt ouster of Albert Manifold as chairman is not expected to usher in yet another strategic shift for the company. Instead, every indication points to CEO Meg O’Neill — just two months into the job — maintaining the full confidence of investors and BP’s whipsawed employee base, with the latest boardroom drama potentially even widening her remit with a view toward delivering much-needed continuity and focus. Here, Energy Intelligence examines the governance issues in play and the potential for more disruptive restructuring to reset and rebuild BP’s shaken corporate culture.
O'Neill Has Stronger Hand to Reshape BP After Chair's Ouster
The shock ouster of BP Chair Albert Manifold — while another unwelcome change at the very top — gives CEO Meg O'Neill a stronger hand to reshape the UK major.
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