BP removes chair Albert Manifold over ‘serious concerns’ about his conduct - Financial Times
Energy
BP has removed chairman Albert Manifold over 'serious concerns' about bullying and overbearing conduct, with Manifold disputing the wrongdoing claims. The sudden governance shock — on top of an already-challenged turnaround story — shifts execution risk onto CEO Meg O'Neill and creates near-term uncertainty that overhangs the stock.
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↓ SHORT-6% target+4% stop2-4 weeks
Stay cautious on BP short-term — governance vacuum plus turnaround execution risk keeps the stock under pressure toward $40 before stabilization.