BP Board Removes Chair Albert Manifold After Eight Months

BP removed chair Albert Manifold on Tuesday after a unanimous board vote over governance oversight and conduct issues. Manifold, who had served less than eight months, released a statement Thursday denying bullying claims and rejecting what he called a false narrative.

BP said the board discovered instances of serious misconduct that it deemed unacceptable. Remuneration chair Ian Tyler was named interim chair while the company searches for a permanent replacement. Manifold wrote that he accepted the board’s decision but would not allow lies to stand or permit anonymous critics to comment on his tenure.

“Is it possible that in my determination to drive change on costs, performance, the balance sheet and shareholder communications, I pushed hard and challenged people directly? Yes, it is.”

Manifold said he focused on cutting costs, simplifying the portfolio, strengthening the balance sheet and improving shareholder value. He stated he walked or took public transport to the office, made his own coffee and avoided private jets and corporate hospitality. He praised CEO Meg O’Neill and CFO Kate Thompson, calling them among the finest people he had worked with.

The departure extends a pattern of sudden exits at BP.

Former CEO Bernard Looney was dismissed in 2023 after lying to the board about personal relationships with employees. Murray Auchincloss left as CEO in December without a stated reason. Manifold had helped recruit O’Neill as the company’s fifth chief executive since 2020. Shares in BP fell nearly 7 percent in the week following the announcement.