BP ousts recently appointed chair over "conduct issues"

Oil giant BP on Tuesday removed Chair Albert Manifold after identifying what it called serious governance and conduct concerns, abruptly ousting the executive less than a year after appointing him to lead the board.

The board unanimously decided that Manifold should no longer serve as chair and a director, with his removal effective immediately, the company said in a statement. 

Amanda Blanc, senior independent director at BP, said the company's board was "surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action."  

Ian Tyler, chair of construction materials distributor Grafton Group and a BP board member since April 2025, will serve as interim chair, BP said.

BP said it will begin a search for a permanent chair.

Manifold, who was appointed to his position last year, had previously led Dublin-based global building materials company CRH. BP had sought a new chair who could redirect the company as BP struggled with falling demand in recent years. 

BP's 2025 earnings dropped 16% from a year earlier to $7.49 billion, as the price of Brent crude, the international benchmark, dropped by nearly 17%. 

Shares of BP slid 5% on the NYSE on Tuesday.