BP removed chairman Albert Manifold with immediate effect after raising serious concerns about governance standards, oversight, and conduct. The board expressed surprise and disappointment at issues it deemed unacceptable. Manifold had been appointed chair in July 2025 as BP reduced green spending and refocused on oil and gas, after previously leading building materials company CRH. He faced a shareholder rebellion when about 18% of shareholders voted against his re-election. BP said a succession process for a permanent chair will begin, and appointed senior independent director Ian Tyler as interim chair. Tyler stated the company remains committed to its strategic direction, moving at pace to deliver operational performance and financial discipline, and praised CEO Meg O’Neill’s experience and impact since joining in April.
"BP says serious concerns have been raised related to important governance standards, oversight and conduct. Amanda Blanc, senior independent director at BP, told shareholders: 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."
"Manifold was only appointed as BP's chair less than a year ago, in July 2025, as the energy giant cut back on green spending and returns its focus to oil and gas. Manifold had previously run building material company CRH. He also suffered a shareholder rebellion last week, when about 18% of shareholders voted against his re-election as chair."
"BP says a succession process for a permanent chair to replace Albert Manifold will now start. In the meantime, it has appointed senior independent director Ian Tyler as interim chair with immediate effect. Tyler says: The Board and leadership team have deep conviction in the strategic direction we have laid out, and the company is moving at pace to deliver it."
"Tyler says: The Board and leadership team have deep conviction in the strategic direction we have laid out, and the company is moving at pace to deliver it. bp is building a track record of strong underlying operational performance and a tight focus on financial discipline - all in the pursuit of growing shareholder value and returns. Tyler also pays credit to BP's new CEO, Meg O'Neill, who joined the company at the start of April."
Read at www.theguardian.com
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