BP removes chair Albert Manifold over governance concerns
Board decision follows conduct allegations, adding to leadership instability and strategic shifts at the energy major.
BP has removed its chair, Albert Manifold, with immediate effect, citing governance and conduct concerns, in a decision taken unanimously by the company’s board. The move comes less than eight months after Manifold assumed the role and adds to a period of ongoing leadership changes at the energy company.
According to BP, the decision followed “serious concerns” related to governance standards, oversight and conduct. While the company did not provide further details, Reuters reported that the concerns included allegations of inappropriate behavior toward colleagues.
Manifold’s departure marks another disruption in BP’s leadership structure, which has seen multiple executive changes in recent years. The company has appointed five chief executives since 2020, reflecting strategic uncertainty and internal challenges. The latest changes coincide with a renewed shift in focus toward oil and gas, reversing parts of its earlier emphasis on renewable energy.
The leadership reshuffle follows previous high-profile departures, including the exit of former CEO Bernard Looney and subsequent management changes. These developments have contributed to increased scrutiny of governance practices within the company.
BP shares fell sharply following the announcement, highlighting investor sensitivity to leadership stability and corporate oversight. The company has not yet disclosed a permanent replacement for the chair position.
The decision underscores the growing importance of governance standards in large energy companies, particularly as they navigate strategic transitions and market pressures.
