Thursday, May 28Thursday, May 28BP has ousted chairman Albert Manifold after just eight months in the role, citing "serious concerns" over his conduct, governance oversight, and an overbearing management style that colleagues likened to an executive chair. The decision, announced on Tuesday, sent BP’s stock tumbling by up to 5% in London and New York trading, deepening the company’s leadership crisis.
The board acted after uncovering what senior independent director Amanda Blanc called "unacceptable" governance and conduct issues, though details remain undisclosed. Sources familiar with the matter told the *Financial Times* that Manifold’s "hands-on approach" alienated colleagues, who viewed his level of control as excessive for a non-executive chair. His removal follows a pattern of instability: Manifold is the third senior BP leader to exit under a cloud in three years, after former CEO Bernard Looney’s abrupt departure in 2023 over undisclosed personal relationships and the surprise resignation of his successor, Murray Auchincloss, in December 2025.
BP has appointed Ian Tyler, a non-executive director, as interim chair while searching for a permanent replacement. The company’s pivot back to its core oil and gas business—reversing Looney’s 2020 climate-focused strategy—had recently buoyed performance, with first-quarter earnings beating expectations. However, the latest upheaval risks undermining investor confidence as BP navigates its strategic shift amid broader energy sector volatility. Manifold, who joined BP’s board in 2024 after a decade as CEO of building materials giant CRH, had been seen as a steadying force, but his tenure ends in turmoil as the company grapples with its third leadership change in 18 months.
BP is deeply dysfunctional, but it could be worse Investors should be concerned by Manifolds ousting, but it is better to fire too many executives than too few
financial times · 2 days ago
Albert Manifold ousted as BP chair over governance and conduct concerns BP stock falls by over 4 percent in US and UK markets as governance concerns lead to chairman Albert Manifolds removal.
aljazeera · 2 days ago
BP sacks chairman Manifold in a fresh blow to the troubled energy giant Albert Manifold is the third senior BP leader to exit under a cloud in three years, as the British energy giants boardroom turmoil shows no sign of abating.
euronews · 2 days ago
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elmundo · 2 days ago
BP removes chair Albert Manifold over serious concerns about his conduct Hands-on approach was viewed as excessive by several colleagues at oil major
financial times · 2 days ago
UK law firm Pinsent Masons reprimanded by court over AI error Judge Mark Mullen warns lawyers against outsourcing legal research or reasoning
financial times · 2 days ago
Energiekonzern: Ölkonzern BP setzt Verwaltungsratschef ab - Aktie rutscht ab
die zeit · 2 days ago
Bullying and overbearing behaviour behind abrupt BP chairman removal
news.yahoo.com · 2 days ago
Britischer Energiekonzern: BP-Aktie rutscht nach Entlassung des Verwaltungsratschefs ab Paukenschlag beim Ölgiganten BP: Der Chairman Albert Manifold muss abrupt seinen Hut nehmen. Grund sind nicht näher benannte Verhaltensverfehlungen. Der BP-Aktienkurs stürzt um fünf Prozent ab.
faz · 2 days ago
BP removes board chair, citing "conduct" concerns BP removed board chair Albert Manifold on Tuesday, citing "serious concerns" about "governance standards, oversight and conduct."Why it matters: BP has lost its CEO and now its board chair in the span of six months, the latest leadership turmoil for a company that has cycled through CEOs during its strategic pivot.Manifold had been chair since October.New CEO Meg ONeill was appointed in December following the surprise resignation of Murray Auchincloss after roughly two years in the role. She took over in April.Auchincloss took the reins in September 2023 after then-CEO Bernard Looney abruptly left amid a probe into his personal relationships within the company.Catch up quick: In recent years, BP has pivoted back toward its core oil and gas business to boost performance that had lagged rivals. Its stock has outperformed some peers this year and first quarter earnings beat expectations, Bloomberg notes. BP has pulled back from the aggressive climate plan it launched under Looney in 2020.State of play: Amanda Blanc, BPs senior independent director, said in a statement that Manifold "has helped bring a welcome focus and pace to BPs transformation."But Blanc added: "However, the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action."The intrigue: The Financial Times, citing people familiar with the matter, reports on behind-the-scenes controversy over Manifolds work."Manifolds hands-on approach was viewed as excessive by several colleagues who saw the level of control he exerted as more akin to that of an executive chair," the paper reports.Whats next: The company named Ian Tyler interim board chair while it seeks a permanent replacement.
axios · 2 days ago
BP ousts Irish chairman Albert Manifold amid serious concerns about his conduct The companys senior independent director said it was disappointed to learn of governance issues BP deems unacceptable.
thejournal · 2 days ago
BP ontslaat bestuursvoorzitter binnen een jaar, aanleiding is onaanvaardbaar gedrag
de volkskrant · 2 days ago