BP chairman removed over 'serious' conduct concerns

Oil giant BP has removed its chairman Albert Manifold over "serious concerns" related to "important governance standards, oversight, and conduct".

Senior independent director Amanda Blanc said the board had been "surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action".

Manifold had been in the position less than a year. Shares tumbled by 6% following the news of his removal.

Ian Tyler has been appointed interim chair with immediate effect.

Manifold joined BP in September 2025 as a non-executive director and was appointed chair the following month.

At the time of his appointment, BP said Manifold had "a strong track record of strategic leadership and operational delivery".

His removal comes after BP reported a doubling in profit following a surge in oil prices since the beginning of the Iran war.

In its first results since the conflict broke out, the energy giant reported profits of $3.2bn (£2.4bn) between January and March after an "exceptional" performance in its oil trading business.

Manifold's departure comes after last month's annual general meeting (AGM) in which nearly a fifth of BP shareholders voted against his election because of concerns over governance.

The criticism was linked in part to BP's refusal to include a resolution filed by climate activists at its annual general meeting, with Manifold saying the resolution had not been filed correctly.

AJ Bell's investment director Russ Mould said even though there had been pressure on the company to "move on" from Manifold's predecessor, "not all investors were happy... judging by how 18% of shareholders voted against his appointment - and recommendations to do so from governance experts Glass Lewis - at April's AGM".

He added that attempts to move AGMs to an online-only format and change how the company reported on climate issues and its related obligations had not "sat well" either.

The company said it would begin the search for a permanent chair.

Interim chair Tyler said the board had "deep conviction" in the strategic direction the company had laid out.

It had been "very impressed" with chief executive Meg O'Neill since she took over last December, he added.

"She has already taken bold action to simplify and strengthen the organisation such as announcing the move to a clearly defined upstream/downstream model."

O'Neill took over from previous chief executive Murray Auchincloss, who stepped down less than two years after he replaced Bernard Looney.

Looney quit in 2023 after he was found to have committed "serious misconduct" in failing to disclose relationships with colleagues.