BP Removes Chair Albert Manifold Over Governance Concerns

Oil company BP on Tuesday removed Chair Albert Manifold after identifying what it called serious governance and conduct concerns. The board unanimously decided that Manifold should no longer serve as chair and a director, with his removal effective immediately, the company said in a statement.

The company said it will begin a search for a permanent chair. Manifold, who was appointed to his position last year, had previously led Dublin-based global building materials company CRH. BP had sought a new chair who could redirect the company as BP struggled with falling demand in recent years.

BP's 2025 earnings dropped 16% from a year earlier to $7.49 billion, as the price of Brent crude, the international benchmark, dropped by nearly 17%. Shares of BP slid 5% on the NYSE on Tuesday.