BP stock falls by over 4 percent in US and UK markets as governance concerns lead to chairman Albert Manifold's removal.

Shares in BP (LON: BP) fell sharply after the energy giant announced its board had removed chairman Albert Manifold in a shock move.

Manifold held the role for just eight months amid broader leadership concerns at the firm.

Albert Manifold has been ousted with immediate effect

British oil giant BP has removed Albert Manifold as chairman less than a year after he took over the role, citing what it described as "serious concerns" over governance,…