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Market Chatter: BP Investors Raising Strategy Concerns After Chairman Manifold's Removal

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Certain BP (BP) shareholders are raising concerns over the company's future strategy following the removal of Chairman Albert Manifold, the Financial Times reported Tuesday, citing the investors.

Manifold led the company' restructuring plan and cost-cutting drive and his departure left investors worried that BP would lose its momentum, the report said. BP told investors that it would continue Manifold's strategy of simplifying the company, FT reported.

Shareholders were also looking for more clarity over Manifold's removal, claiming limited details were disclosed over the circumstances that led to his departure, according to the report.

BP did not immediately respond to' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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