BP Shares Plunge After Chairman Abruptly Removed Over Serious Governance Concerns

BP Shares Plunge After Chairman Abruptly Removed Over Serious Governance Concerns Shares of BP PLC, formerly British Petroleum, dropped in London trading after the oil and gas major said its board had removed Chairman Albert Manifold with immediate effect over "serious concerns" tied to "important governance standards, oversight, and conduct." The abrupt ouster adds yet another layer of instability to BP's turnaround effort; more importantly, it raises serious questions about exactly what prompted the board to give Manifold the boot. "The board has been surprised and disappointed to learn of governance oversight...