BP investors call for 'collective soul-search' after board ousts chairman

BP's board of directors faced a shareholder backlash on Sunday, May 31, 2026, after ousting its chairman in a boardroom battle that ignited a damaging public briefing war. A group of leading investors is demanding a "collective soul-search" by the board, citing concerns over governance and transparency at the British oil major (NYSE: BP). The chairman's removal, the reasons for which remain undisclosed, has exposed deep divisions within the board. Both factions have leaked details to the media, dragging the company into a reputational crisis. BP shares have fallen 3.2% in the past week amid the turmoil, underperforming the broader energy sector. The board has not yet named a permanent successor, though a search is underway. Some shareholders are reportedly considering calling an extraordinary general meeting to vote on new directors. BP declined to comment on the ongoing dispute.