British oil giant BP abruptly removed its chairman, Albert Manifold, citing serious governance and conduct concerns. The board unanimously decided to oust him less than a year after his appointment, effective immediately.
Key Takeaways
BP has removed its chair, Albert Manifold, citing serious governance and conduct concerns. He was ousted less than a year after his appointment, marking another leadership upheaval at the oil giant.
- BP's board unanimously decided to remove Manifold effective immediately
- Ian Tyler appointed as interim chair
- BP shares fell 5% on NYSE following the announcement
- Manifold had previously led CRH and was tasked with refocusing BP's strategy
The company's senior independent director, Amanda Blanc, stated that the board was 'surprised and disappointed' by the issues they deemed unacceptable. Manifold had previously led Dublin-based global building materials company CRH and was appointed to redirect BP as it faced falling demand in recent years.
Ian Tyler, chair of construction materials distributor Grafton Group and a BP board member since April 2025, will serve as interim chair while the company begins its search for a permanent replacement. The news sent BP's shares sliding 4-5% on both the NYSE and London Stock Exchange.
The removal of Manifold marks another leadership upheaval at BP, following the departure of former CEO Bernard Looney in 2023 over undisclosed personal relationships with colleagues. The company has also seen significant changes in its strategic direction, shifting focus back to oil and gas production after briefly pursuing renewable energy investments.
Manifold's tenure was marked by controversy, including a shareholder revolt at the annual general meeting where he received less than resounding support for his re-election. Despite his short time in the role, Manifold had already made significant changes to BP's executive team and strategy.
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