BP NAMES OUTSIDER ALBERT MANIFOLD AS CHAIRMAN AS INVESTORS PUSH FOR TURNAROUND

BP named outsider Albert Manifold, the former boss of building materials producer CRH, as its new chairman on Monday, as it grapples with a major strategy reversal in an attempt to turn around a weak share performance.

Manifold, who has not previously held a senior position in the energy sector, will succeed Helge Lund from October as BP slashes planned renewables spending under persistent takeover and break-up speculation.

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