🔴 BP shares fall 4.8% after board removes Chairman over governance concerns

BP is trading 4.8% down at $42.21 in pre-market action after the company announced the removal of its Chairman.

• The Board of BP announced it has unanimously decided that Chairman Albert Manifold will leave his role with immediate effect.
• The company cited "serious concerns raised to the Board related to important governance standards, oversight and conduct" as the reason for the decision.
• Ian Tyler has been appointed as Interim Chair.