Market Chatter: BP to Appoint 2 New Directors Amid Renewed Focus on Oil, Gas
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BP is set to appoint two new directors as it shifts focus back to oil and gas, expanding its board from 11 to 13 members. This move reflects a strategic pivot from its previous emphasis on green energy. Elliott Management, which holds a nearly 5% stake in BP, is advocating for reduced spending on renewables and may push for board changes related to BP's 2020 strategy. BP shares fell 2% in recent trading.
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