BP Removes Chairman Albert Manifold Over Conduct; Shares Fall 5%
Oil giant BP has removed its chairman, Albert Manifold, with immediate effect. The company cited “serious concerns” relating to “important governance standards, oversight and conduct” as the reason for his departure, which occurred less than a year after his appointment. Sources close to BP indicated that Manifold’s conduct included “bullying” and “overbearing” behaviour.
Manifold vehemently disputes this characterisation, stating: “I dispute entirely the characterisation of my conduct and I will not allow a false narrative to go unchallenged.” He added that he was “removed without warning and without explanation”.
BP’s board stated its decision was unanimous. Senior independent director Amanda Blanc noted the board was “surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action”. Following the announcement, BP shares tumbled by approximately 5%.
Manifold, who joined as a non-executive director in September 2025 and became chairman the following month, was reportedly brought in to refocus BP on oil and gas production, moving away from renewable energy initiatives. His removal follows a period where BP reported a doubling of profits, reaching $3.2bn between January and March, driven by a surge in oil prices amidst geopolitical instability in the Middle East.
Concerns over Manifold’s governance were previously highlighted at April’s annual general meeting, where nearly a fifth of shareholders voted against his election. This opposition was partly linked to BP’s refusal to include a climate activist resolution, which Manifold deemed incorrectly filed. Ian Tyler has been appointed interim chair as the company begins its search for a permanent replacement. This episode follows the 2023 departure of former chief executive Bernard Looney, who resigned after being found to have committed “serious misconduct” by failing to disclose relationships with colleagues.
