BP chairman removed over ‘serious’ conduct concerns
Oil giant BP has sacked its chairman, Albert Manifold, over “serious concerns” about “significant governance standards, oversight and conduct”.
Senior independent director Amanda Blanc said the board was “surprised and disappointed to learn of management oversight and issues it deemed unacceptable and took decisive action.”
Manifold was in this position for less than a year. Shares fell 6% after news of his dismissal.
Ian Tyler has been appointed interim chairman with immediate effect.
Manifold joined BP as a non-executive director in September 2025 and was appointed chairman the following month.
At the time of his appointment, BP said Manifold had a “strong track record of strategic leadership and operational delivery”.
His dismissal comes after BP reports profits doubled There has been an increase in oil prices since the beginning of the Iran war.
In its first results since the start of the conflict, the energy giant reported a profit of $3.2bn (£2.4bn) between January and March, following an “exceptional” performance in its oil trading business.
Manifold’s departure comes after last month’s annual general meeting (AGM), where almost a fifth of BP shareholders voted against his selection due to governance concerns.
The criticism was partly linked to BP’s refusal to include a resolution introduced by climate activists at its annual general meeting; Manifold said the decision was not presented correctly.
Russ Mold, investment director at AJ Bell, said that although there was pressure on the company to “move on” from Manifold’s predecessor, “not all investors were happy, given the fact that 18% of shareholders voted against his appointment and recommendations from management experts Glass Lewis to do so at the AGM in April”.
He added that attempts to move AGMs to an online-only format and change the way the company reports on climate issues and related obligations were also “not well received”.
The company said it would begin searching for a permanent chair.
Interim chairman Tyler said the board has “deep belief” in the strategic direction the company has set.
He added that he has been “very impressed” since CEO Meg O’Neill took over last December.
“He has already taken bold steps to simplify and strengthen the organization, such as announcing the move to a clearly defined upstream/downstream model.”
O’Neill takes over from previous CEO Murray Auchincloss, who resigned less than two years after succeeding Bernard Looney.
