BP has removed Chairperson Albert Manifold over what the company described as “serious concerns” related to governance standards, oversight and conduct, less than a year after he took the role, Reuters reported.
In a statement on Tuesday, BP said Manifold would step down with immediate effect. The move comes only months after the company appointed new Chief Executive Officer Meg O’Neill to help stabilise the business.
“Albert has helped bring a welcome focus and pace to BP’s transformation. However, the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action,” Amanda Blanc, senior independent director at BP, said.
The company did not disclose details of the alleged governance or conduct-related concerns.
BP said board member Ian Tyler would take over as interim chair. Tyler has experience in the building and utilities sector and has served as an independent non-executive director at BP since April last year.
Manifold, the former CEO of building materials group CRH, was appointed BP chairman in July 2025, replacing Helge Lund.
His position had already come under pressure after BP’s annual meeting last month, where more than 18% of shareholders voted against his reappointment. Proxy advisory firm Glass Lewis had earlier raised governance concerns and advised investors to oppose his re-election.
Financial Times reported that BP shares tanked on Tuesday following the announcement.
ALSO READ: BP Shares Plunge 10% After Board Ousts Chairman Albert Manifold Over ‘Serious’ Conduct Issues
The £82 billion UK-listed energy company has faced repeated leadership and strategic challenges since announcing plans in 2020 to transition towards green energy. BP later scaled back parts of that strategy, but efforts to rebuild its position as a major oil and gas producer have been marked by frequent management changes.
Former CEO Bernard Looney stepped down in 2023 after admitting he failed to fully disclose past personal relationships with employees. Before him, former BP chief John Browne resigned in 2007 after revelations he had misled a UK court, while Tony Hayward stepped down in 2010 following the Gulf of Mexico oil spill.
BP appointed former Woodside Energy executive Meg O’Neill as CEO in December, replacing Murray Auchincloss, who had held the role for less than two years.
Ian Tyler said BP’s board had been “very impressed” with O’Neill since she took charge. He added that the leadership team still had “deep conviction in the strategic direction we have laid out, and the company is moving at pace to deliver it”.
ALSO READ: BP Sacks Chairman Albert Manifold For ‘Unacceptable’ Governance Oversight, Conduct Issue
Essential Business Intelligence,
Continuous LIVE TV,
Sharp Market Insights,
Practical Personal Finance Advice and
Latest Stories — On NDTV Profit.
