FT reports that BP investors want clarity on the ousting of the chair.

The Financial Times reported that top BP investors and ex-executives'said that they were in the dark as to the 'exact circumstances which led to the departure of a former?chair Albert Manifold.

BP didn't immediately respond to a request for a statement outside of regular business hours.

One of the world's leading investors told FT that "he was aggressively implementing change, and this made the bureaucracy feel uncomfortable."

"Were they trying to get him out the door?" The same unnamed investor said, "We and many other investors are concerned about this."

Manifold was ousted by BP's Board in May, expressing serious concerns over his governance standards and oversight, as well as his?conduct. This caused the share price to drop as much as 10%.

Manifold acknowledged that he "pushed hard" to make changes, but denied any wrongdoing.

A BP spokesperson told FT the company is firmly focused 'on cost discipline and delivering shareholder value.

A person with a connection to the company said that the oil major was unable to provide full details of Manifold’s dismissal due to its duty of care towards the employees who had complained about him.

Meg O'Neill is BP's CEO, who was appointed in April. She has reorganized BP into two major business units, downstream and upstream, combining?oil production and gas production. This move aims to make BP more simple and valuable. Last week, it was reported that this change would begin in June. Anusha in Bengaluru, Nivedita and Mrigank Dhaniwala edited the report.

(source: Reuters)