BP
Another day, another BP soap opera
BP can’t seem to buy a calm news cycle. The company has pushed out Chairman Albert Manifold after less than a year on the job, with sources alleging he acted in an aggressive and unacceptable way toward colleagues. Not exactly the kind of leadership memo you want attached to a giant energy company.
Why you should care
When a chairman gets ousted this fast, it usually says one of two things: either the board saw a real problem, or the board wants to get ahead of a mess before it grows teeth. Either way, it signals more governance drama at BP, and investors generally don’t love watching the C-suite operate like a revolving door.
The bigger picture
For BP holders, this is less about one person and more about stability. Big energy businesses live and die by capital discipline, strategy, and trust at the top. If the board keeps spending time on personnel cleanups instead of execution, that’s a distraction you can’t hedge with a barrel of oil.
Big picture: BP is once again reminding everyone that the hardest part of running a giant company is sometimes just keeping the boardroom from turning into a reality show.