SouthernWorldwide.com – Oil giant BP has removed its recently appointed chair, Albert Manifold, citing serious governance and conduct concerns. This abrupt ousting comes less than a year after Manifold was appointed to lead the company’s board.
The decision was unanimous among the board members, who concluded that Manifold should no longer hold his position as chair and director. The company announced that his removal is effective immediately.
Amanda Blanc, who serves as the senior independent director at BP, expressed the board’s surprise and disappointment. She stated that the board became aware of governance oversight and conduct issues that they deemed unacceptable, leading to decisive action.
In the interim, Ian Tyler will assume the role of interim chair. Tyler is the current chair of Grafton Group, a construction materials distributor, and has been a member of the BP board since April 2025.
BP has also announced its intention to commence a search for a permanent replacement for the chair position.
Albert Manifold was appointed to his role last year. Prior to his tenure at BP, he held the position of leading CRH, a global building materials company based in Dublin. BP had been seeking a new chair who could help steer the company in a new direction, particularly as it has faced challenges with declining demand in recent years.
The company’s financial performance in 2025 reflected these struggles. BP’s earnings for the year dropped by 16% compared to the previous year, totaling $7.49 billion. This decline coincided with a nearly 17% decrease in the price of Brent crude, the international benchmark for oil prices.
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Following the announcement of Manifold’s removal, shares of BP experienced a notable decline, sliding 5% on the New York Stock Exchange on Tuesday.
