BP has abruptly removed its Irish chairman Albert Manifold, ending his tenure with immediate effect after the board cited concerns over governance standards, oversight and conduct—an upheaval that lands just months after he was brought in to help steer a major strategic reset.
Mr Manifold’s exit comes after roughly eight months in the role and adds to a string of leadership disruptions at the oil major, which has been grappling with scandal and repeated changes at the top.
Less than three years ago, BP dismissed former chief executive Bernard Looney after he misled the board about personal relationships with colleagues.
Mr Looney’s successor, Murray Auchincloss, also left suddenly in December, with BP neither publicly outlining a search process for the top job beforehand nor providing a clear explanation for his departure.
During his short time as chair, Mr Manifold oversaw the appointment of former Woodside CEO Meg O’Neill as BP’s fifth CEO since 2020, a move aimed at speeding up the company’s renewed emphasis on fossil fuels and a step back from renewable energy. That strategic pivot had been set out by Auchincloss early last year.
In a statement on Tuesday, BP said the board had unanimously concluded that Mr Manifold—who has been backed by activist hedge fund Elliott, which has built up a stake of around 5% in BP—should no longer serve as chair and director, effective immediately.
“This follows serious concerns raised to the board related to important governance standards, oversight and conduct,” BP said.
“Albert has helped bring a welcome focus and pace to BP’s transformation. However, the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action,” said senior independent director Amanda Blanc, who oversaw Mr Manifold’s appointment in October.
A BP spokesperson declined to provide additional details.
Elliott Management did not immediately respond to a request for comment.
BP shares fell almost 10% following the announcement and trading was briefly halted before the stock recovered some ground. By contrast, an index of European energy companies was down less than 1%.
Mr Manifold was appointed amid takeover speculation
Before joining BP, Mr Manifold had not worked in the energy sector. He built his reputation leading building materials group CRH, where he reshaped the company’s portfolio.
He also shifted CRH’s primary stock market listing from Ireland to the United States, a move followed by a rise in the share price.
BP announced his appointment last year after years of share underperformance compared with rivals fuelled persistent talk of a takeover or potential break-up.
In April, BP’s annual general meeting delivered another warning sign: shareholders rejected two board resolutions, and support for Mr Manifold’s appointment as chair came in below what is typically expected.
Although the board presented a united front at the AGM, proxy adviser Glass Lewis said at the time that Mr Manifold bore ultimate responsibility for BP’s decision to block a resolution submitted by climate activist group Follow This, and on that basis urged shareholders to vote against him.
His appointment was confirmed by around 82% of votes, well short of the near-100% support directors often receive.
