British oil giant BP announced the removal Tuesday of Albert Manifold as chairman just months after his appointment on 'serious’ governance and conduct concerns. File photo by Neil Hall/EPA
May 26 (UPI) -- The board of British oil giant BP announced Tuesday the removal of chairman, Albert Manifold, just months after his appointment in October, citing "serious concerns" regarding "important governance standards, oversight and conduct."
The firm said Manifold's removal was effective immediately but provided no other information amid a leadership revolving door at the top of the FTSE 100 blue-chip since the departure of CEO Bernard Looney in September 2023 over his failure to come clean about sexual relationships with subordinates.
Manifold's interim replacement was named as BP board member Ian Tyler, a director of Anglo American and former CEO of U.K. construction giant Balfour Beatty.
CNBC said Manifold's ousting came on the heels of a shareholder revolt at BP's AGM in April, where he received a less-than-resounding endorsement in a vote electing him as the replacement for Helge Lund, who announced his intention to quit the board this year back in April 2025.
