Management ChangeMay 26, 2026, 07:42 AM
BP Removes Chair Albert Manifold Over Governance Concerns
AI Summary
BP p.l.c. announced the immediate and unanimous removal of Albert Manifold as its Chair and Director. The decision followed serious concerns raised to the Board regarding governance standards, oversight, and conduct. Ian Tyler has been appointed as Interim Chair, and a search for a permanent replacement will commence. The Board also reaffirmed its confidence in CEO Meg O'Neill and the company's strategic direction.
Key Highlights
- BP's Board unanimously removed Albert Manifold as Chair and Director with immediate effect.
- The removal was due to serious concerns regarding governance standards, oversight, and conduct.
- Amanda Blanc, Senior Independent Director, stated the board was "surprised and disappointed" by the issues.
- Ian Tyler has been appointed Interim Chair with immediate effect.
- A succession process for a permanent Chair will be initiated.
- The Board expressed deep conviction in the company's strategic direction and confidence in CEO Meg O'Neill.
Price Impact
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