Ousted BP Chair Manifold Denies Misconduct After 8 Months, Says He Pushed Hard for Change
Updated
Updated · Reuters · May 28
Ousted BP Chair Manifold Denies Misconduct After 8 Months, Says He Pushed Hard for Change
3 articles · Updated · Reuters · May 28
Summary
Albert Manifold said he may have "pushed hard" on costs, performance, the balance sheet and shareholder communications, but rejected BP's claims of misconduct after his dismissal.
BP removed him on Tuesday after eight months as chair, citing serious concerns about his governance standards; Reuters previously reported four sources saying he acted aggressively toward colleagues.
BP said on Thursday it stood by its statements and had a duty of care to employees, while Manifold called anonymous allegations lies and said critics should not hide behind anonymity.
A source said Manifold has hired law firm Mishcon de Reya after the firing, though his spokesperson declined to comment on any potential action against BP.
The clash deepens BP's latest leadership turmoil after Manifold had been brought in to drive cost cuts and efficiency changes across the oil major.