BP chair removed over 'serious' conduct concerns
Summary
BP removed its chairman, Albert Manifold, due to serious concerns about governance and conduct. Ian Tyler was named interim chair, and BP's shares fell after the announcement.Key Facts
- Albert Manifold was BP's chairman for less than a year before being removed.
- The board cited serious issues with governance, oversight, and conduct.
- Amanda Blanc, senior independent director, said the board was surprised and disappointed.
- Ian Tyler was appointed interim chair immediately after Manifold’s removal.
- Manifold joined BP as a non-executive director in September 2025 and became chair in October 2025.
- BP described Manifold as having a strong record in leadership when he was appointed.
- BP recently reported a profit of $3.2 billion from January to March, partly due to high oil prices after the Iran war.
- BP’s shares dropped 4% following the news of Manifold’s removal.
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