BP Ousted Chairman Clashed With Director Over Deal Talks, WSJ Says, Days After His May 27 Removal
Updated
Updated · Reuters · May 29
BP Ousted Chairman Clashed With Director Over Deal Talks, WSJ Says, Days After His May 27 Removal
5 articles · Updated · Reuters · May 29
The Wall Street Journal reported Albert Manifold privately clashed with BP director Simon Henry earlier this year over how sensitive talks tied to a potential deal were handled.
Manifold allegedly accused Henry of overstepping his authority and excluding other directors from communications, while Henry denied mishandling the talks and said Manifold was mischaracterising conversations.
BP removed Manifold on May 27, citing serious concerns about his governance standards, oversight and conduct; Manifold said he was ousted without warning and disputed BP's account.
A spokesperson for Manifold denied he made the alleged accusations against Henry, while BP declined comment and Henry and CEO Murray Auchincloss were not immediately reachable.
The report adds to signs of wider boardroom strain at BP, where Henry joined in September and the Journal said Manifold had also faced tensions last year with Auchincloss.
Beyond misconduct, what power struggle led to the BP chairman's ousting and what does it mean for the company's future?
When a chairman's 'aggressive' style clashes with governance, who really decides a corporate giant's future?