BP ousts recently appointed chair over "conduct issues"
Summary
BP removed its Chair, Albert Manifold, because of serious concerns about how he managed the company and behaved. The decision was made quickly and unanimously by the board, and Ian Tyler will temporarily take over while BP looks for a new permanent chair.Key Facts
- Albert Manifold was removed as BP Chair and director due to governance and conduct issues.
- The board acted immediately and agreed unanimously on his removal.
- Ian Tyler, a BP board member since April 2025, will serve as interim chair.
- BP will start searching for a new permanent chair.
- Manifold became chair less than a year before his removal.
- Manifold previously led CRH, a global building materials company.
- BP’s earnings in 2025 dropped by 16% to $7.49 billion.
- BP’s share price fell 5% on the New York Stock Exchange on the day of the announcement.
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