May. 30 at 2:13 AM
BP's abrupt removal of Chairman Albert Manifold followed months of escalating tensions inside the company's boardroom, according to reports. One major flashpoint occurred earlier this year when Manifold reportedly confronted nonexecutive director Simon Henry, the former CFO of Shell, over the handling of highly sensitive discussions regarding a potential transaction or strategic deal.
According to people familiar with the matter, Manifold believed Henry had overstepped his role by conducting communications without adequately involving other board members. The disagreement reflected broader concerns about governance, authority, and decision-making within BP's leadership team.
The reported conflict was part of a wider pattern of friction among senior directors that developed before Manifold's dismissal.
$BP