BP appoints Ian Tyler as permanent chair following leadership upheaval

BP has appointed Ian Tyler as its permanent chair after months of upheaval at the top of the British energy giant.

Tyler takes up the position immediately following a search that considered both internal and external candidates, BP said on Wednesday.

BP shares were little changed in early London trading. They have gained around 25% since the beginning of the year, broadly matching the rise in rival Shell’s shares.

Tyler had served as interim chair since 26 May, when BP abruptly dismissed his predecessor, Albert Manifold, after less than eight months in the role.

At the time, BP said the board had identified “governance oversight and conduct issues it deems unacceptable”. Manifold has disputed the company’s account and sought legal advice.

BP shares fell as much as 9% following the announcement of his departure before recovering some of those losses.

Tyler joined BP’s board as a non-executive director in April 2025. He is a former chief executive of construction group Balfour Beatty and currently chairs building materials company Grafton Group.

BP said Tyler had worked alongside more than 15 chief executives during a non-executive career spanning listed and privately owned companies in the oil and gas, natural resources and engineering sectors.

“Ian brings significant experience providing challenge and support to executive teams, while maintaining strong governance and oversight on behalf of shareholders,” said Dame Amanda Blanc, BP’s senior independent director.

Tyler will lead the board as it oversees chief executive Meg O’Neill’s restructuring programme. Her priorities include simplifying BP’s portfolio, strengthening its balance sheet and imposing tighter investment discipline.

BP is seeking to reduce net debt to between $14 billion (€12bn) and $18 billion (€15.4bn) by the end of 2027. The company estimated in July that its net debt stood at between $22 billion and $23 billion at the end of June.

The debt target formed part of a strategic reset announced in February 2025, when BP shifted investment back towards oil and gas, reduced planned spending on low-carbon businesses and promised tighter capital allocation.

BP also announced that Blanc, who oversaw the searches that led to the appointments of both Manifold and Tyler, would not seek re-election at next year’s annual general meeting. She will leave the board once a successor has been appointed.