BP Chair Albert Manifold Removed Amid Governance Crisis
BP has removed its chair, Albert Manifold, due to serious governance and conduct concerns. This shocking decision comes just eight months into his tenure, raising questions about the company's leadership stability.
Immediate Leadership Changes at BP
In a surprising move, BP has announced the immediate removal of its chair, Albert Manifold, following significant concerns regarding governance standards and oversight. Manifold, who was appointed in October 2025, faced scrutiny for his conduct, leading to a swift decision by the board to part ways with him after only eight months in the role.
The impact of this decision was felt immediately, with BP's share price plummeting by 9% shortly after the announcement, making it the biggest faller on the FTSE 100. Amanda Blanc, BP's senior independent director, expressed disappointment over the situation, emphasizing the board's commitment to maintaining high governance standards.
- Key points about the situation:
- Manifold's tenure lasted just eight months.
- He previously ousted CEO Murray Auchincloss.
- Ian Tyler has been appointed as interim chair.
- This marks the second leadership exit at BP due to conduct issues in three years.