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Irish Independent

New BP chair Albert Manifold to ‘review entire portfolio'

Former CRH boss is joining oil giant under pressure to deliver on turnaround Bloomberg BP said its new chairman, Dubliner Albert Manifold, will conduct a review of the entire portfolio and the company will seek to cut costs beyond its current targets, as the oil and gas major works to reverse years of poor performance. The London-based company is under growing pressure to deliver on a turnaround, including from activist investor Elliott Investment Management, which amassed a stake earlier this year to force sweeping changes and has pushed for deeper cost cuts.