BP Chairman Albert Manifold Removed Over Governance and Conduct Failures

BP has announced the immediate removal of its chairman, Albert Manifold, less than a year after his appointment. The oil giant stated the decision stemmed from "serious concerns" about "important governance standards, oversight, and conduct."

Amanda Blanc, the senior independent director, stated the board was "surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action." Manifold had joined BP as a non-executive director in September 2025, assuming the chairmanship the following month.

His departure follows BP's recent report of a significant profit increase, with earnings doubling to $3.2 billion between January and March. This surge was attributed to an "exceptional" performance in its oil trading business, capitalising on elevated oil prices since the commencement of the Iran conflict. Despite these financial gains, the company's shares fell by 4% upon the news of Manifold's removal. Ian Tyler has been appointed interim chair.