BP chairman removed over 'serious' conduct concerns

BP has removed its chairman Albert Manifold after less than a year in the role due to "serious concerns" related to governance standards, oversight, and conduct issues deemed unacceptable by the board. Senior independent director Amanda Blanc stated the board was "surprised and disappointed" to learn of these issues, and Ian Tyler has been appointed interim chair. The removal comes shortly after BP reported doubled profits of $3.2bn in the first quarter, driven by surging oil prices following the Iran war and exceptional oil trading performance.