BP ousts chair Albert Manifold amid conduct allegations; shares drop
Consensus Summary
BP abruptly removed its chair, Albert Manifold, on May 26, 2026, after eight months in the role, citing serious concerns over governance and conduct. The move followed reports of bullying and aggressive behavior, which Manifold vehemently denied, calling them lies and stating no one had previously raised such issues with him. Ian Tyler, a senior independent director, was appointed interim chair, while Meg OāNeil, the CEO, was endorsed to continue BPās strategic shift toward fossil fuels and cost-cutting measures. The companyās shares fell 4% after the announcement, and a search for a permanent replacement chair has begun. Manifoldās tenure coincided with BPās retreat from renewable energy projects, including abandoning a $55 billion green energy hub in Western Australiaās Pilbara region in June 2025.
ā Verified by 2+ sources
Key details reported by multiple sources:
- Albert Manifold was appointed BP chair in October 2025, replacing Helge Lund, and served only eight months before being removed.
- BP removed Manifold due to 'serious concerns about important governance standards, oversight and conduct' effective immediately on May 26, 2026.
- Ian Tyler, a BP senior independent director since April 2025, was appointed interim chair following Manifoldās departure.
- BP shares dropped 4% after Manifoldās removal was announced.
- Meg OāNeil, former CEO of Woodside, was endorsed as BPās CEO by the interim chair and has led cost-cutting and strategic shifts since December 2025.
- BP abandoned its majority stake in a $55 billion green energy hub in Western Australiaās Pilbara region in June 2025.
Points of Difference
Details reported by only one source:
- BPās senior independent director, Amanda Blanc, stated the board was 'surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable.'
- BPās clean energy projects have been scaled back as the company pivoted back to fossil fuels under Manifoldās tenure.
- Manifold was appointed as BP shifted away from renewable energy investments.
- Manifold denied allegations of bullying or aggressive behavior, calling reports 'lies' and stating no one had raised conduct issues with him during his tenure.
- Manifold claimed he spent only 13 days in BPās London office in 2026 and rejected accusations of exerting executive-level control over the company.
- Manifold criticized BPās 'culture of entitlement' among executives, noting he rejected perks like chauffeur-driven cars, private jets, and corporate hospitality.
- BPās statement on May 28 reiterated its duty of care to employees impacted by Manifoldās behavior, standing by its earlier announcement.
Contradictions
Conflicting information between sources:
- ABC reports Manifoldās departure was due to 'bullying' and 'overbearing' behavior (citing BBC), but Manifold denies these claims in the Guardian, calling them 'lies' and stating no one raised conduct issues with him.
- ABC states Manifold was appointed in October 2025 to oversee BPās pivot back to fossil fuels, while the Guardian frames his role as overseeing a shift away from renewable energy investments, though both agree on the timing and strategic direction.
- ABC mentions BPās shares dropped 4% after the announcement, but the Guardian does not report this specific detail.
Source Articles
BP removes chair over 'serious concerns' about conduct
The BBC reported Albert Manifold's departure followed concerns about "bullying" and his "overbearing" behaviour.
BP boardroom turmoil deepens as ousted chair hits back at āliesā over conduct
Albert Manifold disputes reports about his behaviour and says he always tried to set example The boardroom turmoil at BP deepened after its ousted chair, Albert Manifold, claimed allegations about his conduct were āliesā. In a new and lengthy statement, Manifold disputed reports about his conduct, saying: āAt no point in my tenure as chairman of BP has anyone raised with me any issue about my conduct or my relationship with my colleagues.ā Continue reading...