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Albert Manifold lasted seven months as BP chairman before the board showed him the door Tuesday, which is a tenure so brief it barely qualifies as a bullet point on a résumé. BP said the dismissal followed "serious concerns" related to governance standards, oversight and conduct, declined to elaborate on any of those concerns, and wished everyone a productive morning. Shares fell as much as 9% before settling around 5% down, which is the market's way of saying the news was bad but not catastrophic, and also that nobody particularly loved Manifold in the first place.

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The leading theory is that Manifold, a hands-on operator who spent a decade transforming CRH as its CEO, simply couldn't shift gears into the passive role a non-executive chair is supposed to occupy. The Financial Times reported that colleagues felt the level of control he exerted was more akin to an executive chair, which is a serious governance breach and the kind of thing that tends to end quickly once it becomes a board conversation. Warning signs had already surfaced before Tuesday. Over 18% of investors voted against his re-election at last month's AGM after advisory firm Glass Lewis urged opposition, and he drew criticism for blocking a climate activist resolution at the same meeting. Seven months is not enough time to fix a governance problem. It is, apparently, enough time to become one.

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CNBC's outreach to the UK Serious Fraud Office suggests reporters are sniffing around a potential legal dimension, though nothing has been confirmed. Ian Tyler steps in as interim chair while BP searches for a permanent replacement. Meg O'Neill, the former Woodside Energy boss who took over as CEO on April 1, is two months into a job that now includes an unexplained governance scandal, an interim chairman, and a strategic reversal away from renewables that was already generating friction before any of this happened. BP has spent years telling investors it was a different kind of energy company. Right now, it is busy being a very traditional kind.