Oil giant BP ousts new chairman over ‘conduct’ and shares slide - AP News
Energy
BP ousted newly appointed chairman Albert Manifold over serious conduct concerns including alleged bullying behavior, sending shares down nearly 4% in a single session. The abrupt governance shock adds leadership uncertainty on top of BP's existing strategic pressures, creating a near-term overhang even as analyst consensus remains broadly constructive.
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↓ SHORT-5% target+3% stop2-4 weeks
Fade the BP bounce — governance overhang and no clear succession timeline keeps BP underperforming peers XOM/SHEL over the next 2-4 weeks.