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Shareholder Pressure Tests BP Governance As Strong Share Price Run Continues

Shareholder Pressure Tests BP Governance As Strong Share Price Run Continues

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  • BP (LSE:BP.) faces increased pressure ahead of its AGM as several major proxy advisers and institutional investors urge votes against chair Albert Manifold.

  • Concerns focus on board transparency, the handling and withdrawal of climate related shareholder resolutions, and a proposed move to virtual only AGMs.

  • Investors are also questioning BP’s reduced climate ambitions and its renewed focus on oil and gas, seeing potential governance and reputational risks.

For investors watching BP at a share price of £5.805, the governance debate comes after a strong run in the stock, with a 32.6%…

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