BP has ousted chair Albert Manifold with immediate effect, it said yesterday, citing governance and conduct issues, with four sources alleging aggressive and unacceptable behaviour towards colleagues.
Just under eight months after he took office to help oversee a strategy revamp, Manifold’s departure follows scandal and repeated leadership changes at BP. Less than three years ago, former BP CEO Bernard Looney was fired after lying to the board about personal relationships with colleagues.
With Manifold fresh in the job, Looney’s successor Murray Auchincloss left abruptly in December, with no clear reason given for his exit. Former Woodside CEO Meg O’Neill was immediately announced as BP’s fifth CEO since 2020 to accelerate the company’s shift in focus back to oil and gas and away from renewable energy, a strategy change announced by Auchincloss early last year.
In a statement yesterday, BP said its board had unanimously decided that Manifold – who has had the backing of activist hedge fund Elliott, which has built up a stake of around 5 per cent in BP – should no longer serve as chair and director with immediate effect.
“This follows serious concerns raised to the board related to important governance standards, oversight and conduct,” BP said.
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