BP Lacked Strategic Cohesion and Direction, Says Albert Manifold
Albert Manifold: BP Lacked Strategic Cohesion and Direction
Upon his arrival, BP's new CEO Albert Manifold stated that the company lacked strategic cohesion and direction. He emphasized that this has negatively impacted the company's performance.
Lack of Strategic Cohesion
Manifold pointed out a lack of coordination among BP's different units and the absence of a clear strategic direction. This makes it difficult for the company to achieve its energy transition goals.
Future Plans
The new CEO aims to redefine the company's strategic priorities to create a more coherent structure. Manifold plans to increase investments in renewable energy to reduce BP's carbon footprint.
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