rki.news | Sources: Xinhua

LONDON, May 26 — British oil and gas giant BP said Tuesday its board unanimously decided to remove Albert Manifold as chair and director with immediate effect over corporate governance concerns.

In a statement, BP said the decision followed serious concerns raised regarding governance standards, oversight, and conduct.

The company appointed Ian Tyler as interim chair with immediate effect.

BP shares fell more than 5.5 percent by early Tuesday afternoon after the announcement.

The company did not provide further details but said the move reflects its commitment to strong governance practices and board accountability.