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Market Chatter: BP's Chairman Clashed With Company Secretary Before Ouster

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BP's (BP) former chairman Albert Manifold, who was ousted earlier in the week, had fallen out with company secretary Ben Mathews before his removal from the role, the Financial Times reported Thursday, citing four sources familiar with the matter.

Mathews had concerns about the former chair's conduct, some of the sources said. A source close to Manifold said that he and Mathews had disagreements over costs, and that the company secretary was the "driver" behind the decision to oust Manifold, according to the report.

BP's board on Tuesday announced the removal of Manifold due to "serious concerns" about governance standards, oversight, and conduct. Manifold rejected the allegations against him in a statement on Thursday, according to a CNBC report.

BP did not immediately reply to a request for comment from.

(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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