The Board of Directors of BP p.l.c. has unanimously decided that Albert Manifold should no longer serve as Chair and Director, terminating his position with immediate effect.
The abrupt removal follows serious concerns raised to the Board regarding critical governance standards, internal oversight, and executive conduct. In response to the vacancy, the Board has appointed Ian Tyler to serve as Interim Chair while a formal succession process for a permanent leader is initiated.
Amanda Blanc, Senior Independent Director at BP, expressed dissatisfaction with the development, stating: “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.”
Despite the sudden leadership disruption, the energy conglomerate maintained that its broader corporate strategy and operational goals remain unchanged.
Ian Tyler, the newly appointed Interim Chair, reaffirmed the Board’s alignment with executive leadership, stating: “The Board and leadership team have deep conviction in the strategic direction we have laid out, and the company is moving at pace to deliver it. bp is building a track record of strong underlying operational performance and a tight focus on financial discipline – all in the pursuit of growing shareholder value and returns.”
Tyler also voiced strong support for Chief Executive Officer Meg O’Neill, who recently restructured the firm’s operations. “The Board has been very impressed with Meg O’Neill since she joined as CEO,” Tyler added. “She has extensive industry and operational experience and real clarity about the direction and opportunity for the business. She has already taken bold action to simplify and strengthen the organization such as announcing the move to a clearly defined upstream/downstream model. Under her leadership we are building a simpler, stronger, more valuable bp.”
