BP Chairman Ouster Is A Governance Story, Not A Personality Story

The headlines around BP's decision to remove its chairman have focused on personality. That is the wrong lesson. This is a governance story.

The fundamental principle of directorship is simple: nose in, fingers out. Directors are there to stay informed, ask tough questions, and provide oversight. They are not there to run the company.

Strong governance is rarely about reacting to a crisis but recognising the quiet signals before they become headlines. The directors who avoid public crises are not always the ones with the most impressive resumes. They are the ones who act while the warning signs are still easy to ignore.

Read More