{"id":262,"date":"2026-05-26T15:09:18","date_gmt":"2026-05-26T15:09:18","guid":{"rendered":"https:\/\/trustedmovinggroups.com\/?p=262"},"modified":"2026-05-26T15:09:18","modified_gmt":"2026-05-26T15:09:18","slug":"bp-chair-albert-manifold-ousted-over-serious-conduct-issues","status":"publish","type":"post","link":"https:\/\/trustedmovinggroups.com\/?p=262","title":{"rendered":"BP chair Albert Manifold ousted over serious \u2018conduct issues\u2019"},"content":{"rendered":"
\n

BP has ousted Chair Albert Manifold with immediate effect, it said \u200con Tuesday, citing governance standards, oversight and conduct issues, just under eight months after he took office to help oversee a strategy revamp.<\/p>\n

Read more North Carolina police arrest suspect in nearly 20-year-old double killing at a beverage distribution company<\/a><\/p>\n

Manifold\u2019s 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.<\/p>\n

<\/div>\n

With Manifold \u200bfresh in the job, Looney\u2019s successor Murray Auchincloss left abruptly in December, with no clear reason given for his exit. Former Woodside CEO Meg O\u2019Neill was immediately announced as BP\u2019s fifth CEO since 2020 to accelerate the company\u2019s shift in \u2060focus back to oil and gas and away from renewable energy, a strategy change announced by Auchincloss early last year.<\/p>\n

In a statement on Tuesday, BP said its board had unanimously decided that Manifold \u2014 who has had the backing of activist hedge fund \u200bElliott, which has built up a stake of around 5% in BP \u2014 should no longer serve as chair and director with immediate effect.<\/p>\n

\u201cThis follows serious concerns raised to the board related to important governance standards, oversight and conduct,\u201d BP said.\u201cAlbert has helped bring a welcome focus and pace to BP\u2019s transformation. However, the board has \u200bbeen surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action,\u201d said senior independent \u200bdirector Amanda Blanc. Blanc oversaw Manifold\u2019s appointment in October.<\/p>\n

A BP spokesperson declined to give further details. <\/p>\n

<\/div>\n

Elliott declined to \u200ccomment.<\/p>\n

BP shares \u2060were down almost 10% after the announcement and their trading briefly halted. They later pared some losses to trade down nearly 5%. An index of European energy companies was down less than 1%.<\/p>\n

Manifold, who had never held a job in the energy industry before BP, had made a name for himself as the chief at building materials producer CRH whose portfolio he reshaped. He also moved its primary \u200blisting from Ireland to the U.S. \u200band the share price rose.<\/p>\n

Read more Iranian hackers responsible for Los Angeles transit system breach, Israeli researchers say<\/a><\/p>\n

BP \u2060announced his appointment last year after years of share underperformance against its rivals had prompted persistent takeover and break-up speculation.<\/p>\n

Under Manifold, BP\u2019s board shrank. Shell finance chief Simon Henry, who only joined BP in September, was among those who \u200bchose to leave.<\/p>\n

In April, at BP\u2019s annual general meeting, the board failed to get two of its resolutions accepted \u200bby shareholders and \u2060Manifold\u2019s appointment as chair got less support than typical.<\/p>\n

<\/div>\n

While the board stood united at the AGM, proxy adviser Glass Lewis said at the time Manifold was ultimately accountable for BP\u2019s decision to exclude a resolution filed by climate activist group Follow This and thus recommended a vote against him. His appointment \u2060was confirmed \u200bby around 82% of votes, which is below a typical tally near 100% for \u200bdirectors.<\/p>\n

Ian Tyler, a former chief of British construction group Balfour Beatty and on BP\u2019s board since last year, will be interim chair.<\/p>\n

Read more U.S. men\u2019s national team set to reveal World Cup roster Tuesday<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

BP ousted Chair Albert Manifold with immediate effect citing governance standards, oversight and conduct issues, but did not say what those were.<\/p>\n","protected":false},"author":1,"featured_media":261,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[],"class_list":["post-262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy"],"yoast_head":"\nBP chair Albert Manifold ousted over serious \u2018conduct issues\u2019 - Trusted Moving Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trustedmovinggroups.com\/?p=262\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BP chair Albert Manifold ousted over serious \u2018conduct issues\u2019 - 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