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Market Chatter: Former BP Chair's Elliott Meetings Raised Governance Concerns

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Former BP (BP) Chair Albert Manifold met with activist investor Elliott Management without directly notifying other board members, Reuters reported Thursday, citing sources familiar with the matter.

BP removed Manifold less than eight months into the role over governance and conduct concerns, with some board members viewing his meetings with Elliott as unilateral actions, according to the report.

Manifold had notified BP's investor relations team about the meetings, which were expected to be included in regular board updates, Reuters added.

BP did not immediately reply to' request for 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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