BP PLC (NYSE: BP) shares are trading lower Tuesday afternoon following a major, unexpected shakeup in the energy giant's boardroom.

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,…

Manifold was appointed to the position less than a year ago when the company was undergoing severe leadership turmoil.