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Newsgather
RetourBP fires chairman Albert Manifold over governance, conduct concerns
BP fires chairman Albert Manifold over governance, conduct concerns
DERNIÈRE MINUTE
BBC Business26/05/2026Business2 min de lecture

BP fires chairman Albert Manifold over governance, conduct concerns

Board says dismissal followed serious governance, oversight and conduct issues amid 5% shares drop after the announcement

L'essentiel

  • BP has removed its chairman Albert Manifold with immediate effect over serious governance, oversight and conduct concerns, including references to bullying behaviour.
  • The move follows governance tensions, AGM criticisms and a fall in BP's share price, with Meg O'Neill's leadership under renewed focus.

Résumé généré par IA

Taille de police

BP has removed its chairman Albert Manifold with immediate effect over concerns including "bullying" and "overbearing" behaviour by him, the BBC understands. The company said in a statement that his dismissal was a result of "serious concerns" related to "important governance standards, oversight and conduct". Manifold's departure comes less than a year since he joined the company.

BP declined to comment on whether bullying behaviour was part of the reason for his immediate dismissal. The BBC has attempted to contact Manifold for comment.

One person close to the company said: "This is a big lever to pull, you wouldn't do it unless it was serious". Senior independent director Amanda Blanc said the board had been "surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action". Blanc was the director who led the search for a new chair after Helge Lund stepped down last year after more than seven years as chair.

Shares tumbled by about 5% following the news of his removal.

Manifold was brought in to steer BP away from a focus on renewable energy and back to oil and gas. He joined the company in September 2025 as a non-executive director and was appointed chair the following month. At the time of his appointment, BP said Manifold had "a strong track record of strategic leadership and operational delivery".

His removal comes after BP reported a doubling in profit following a surge in oil prices since the beginning of the Iran war. In its first results since the conflict broke out, the energy giant reported profits of $3.2bn (£2.4bn) between January and March after an "exceptional" performance in its oil trading business.

Manifold's departure comes after last month's annual general meeting (AGM) in which nearly a fifth of BP shareholders voted against his election because of concerns over governance. The criticism was linked in part to BP's refusal to include a resolution filed by climate activists at its annual general meeting, with Manifold saying the resolution had not been filed correctly.

AJ Bell's investment director Russ Mould said even though there had been pressure on the company to "move on" from Manifold's predecessor, "not all investors were happy... judging by how 18% of shareholders voted against his appointment - and recommendations to do so from governance experts Glass Lewis - at April's AGM". He added that attempts to move AGMs to an online-only format and change how the company reported on climate issues and its related obligations had not "sat well" either.

Interim chair Tyler said the board had "deep conviction" in the strategic direction the company had laid out. It had been "very impressed" with chief executive Meg O'Neill since she took over last December, he added. "She has already taken bold action to simplify and strengthen the organisation such as announcing the move to a clearly defined upstream/downstream model."

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This article was originally published by BBC Business.

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