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BP Dismisses Chair Albert Manifold Over Governance and Conduct Concerns
BP removed chair Albert Manifold after the board cited governance oversight and conduct issues. The departure follows earlier leadership changes at the company and comes amid shareholder pressure.
May 26, 11:24 AM·1m read1 source
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BP dismissed chair Albert Manifold on Tuesday after the board raised concerns about governance oversight and conduct. Amanda Blanc, senior independent director, said the board was surprised and disappointed by the behavior.
Manifold is the third chairman and the company has had three chief executives in the past five years. Bernard Looney was dismissed in 2023 for serious misconduct after personal relationships with staff and inaccurate statements to the board. Earlier departures include chief executive Tony Hayward in 2010 after the Deepwater Horizon incident and John Browne in 2007 after lying to a court.
21 after the announcement. The company is valued at £82 billion. A month earlier, 20 percent of shareholder votes opposed Manifold’s re-election, partly over the exclusion of a climate resolution from the annual meeting.
BP has faced multiple regulatory and operational issues in past decades, including a 2007 fine of $300 million for propane market manipulation. The company’s current chief executive is Meg O’Neill and interim chair is Ian Tyler. Both are expected to address investor and public concerns about leadership stability.
