BP Chairman Albert Manifold Ousts CEO Murray Auchincloss, Winning Backing From Elliott
Updated
Updated · Bloomberg · May 30
BP Chairman Albert Manifold Ousts CEO Murray Auchincloss, Winning Backing From Elliott
8 articles · Updated · Bloomberg · May 30
Albert Manifold, newly installed as BP chairman, was involved in removing CEO Murray Auchincloss after clashes over the company’s turnaround.
BP staff said Manifold quickly took a hard-charging role inside the company, drilling into operational details and at times confronting employees sharply.
That combative approach also won support from Elliott Investment Management, one of BP’s biggest investors and most influential activist critics.
The episode underscores how BP’s high-stakes reboot has spilled into boardroom conflict as the company tries to revive its fortunes.
A chairman backed by activists is fired by the board. Who is now in control of BP's future?
Was BP's ousted 'streetfighter' chairman a tough reformer or just a toxic bully?
With its aggressive chairman gone, will BP abandon its controversial pivot back to oil and gas?