Bp's new chair faces shareholder rebellion over climate stance

BP's boardroom upheaval has sparked a shareholder revolt, with a leading proxy advisor urging investors to reject the oil major's new chair over his decision to block a landmark climate proposal.

Glass lewis rebukes manifold's six-month tenure

Glass Lewis, which advises some of the world's biggest investors, has recommended shareholders vote against Albert Manifold just six months into his tenure, citing BP's exclusion of the climate strategy under scenarios of declining oil and gas demand.

The proposal, tabled by climate activist shareholder group Follow This, sought to prompt the company and its investors to discuss the issue at BP's annual general meeting on April 23rd.

BP, one of the world's largest oil companies, is shifting its focus back to oil and gas after an ill-received foray into renewables. Manifold, who previously ran building materials firm CRH, joined in October with promises to help BP