BP removed chair Albert Manifold on Tuesday following what the company described as serious governance and conduct breaches, marking another blow to the oil giant's leadership stability.
Manifold's ouster comes just six months after BP installed new CEO Meg O'Neill, who arrived in April following the abrupt departure of Murray Auchincloss. Before that, Bernard Looney exited the top job in 2023 amid an investigation into his personal relationships at the company. The revolving door at BP's leadership reflects a period of significant internal turbulence.
Amanda Blanc, BP's senior independent director, acknowledged Manifold's contributions in a statement, noting he had helped accelerate the company's transformation. But she added a sharp pivot: "the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action."
Behind the scenes, Manifold's management style had become a flashpoint, according to reporting from the Financial Times. His hands-on approach to the role crossed lines for some board members, who viewed his level of control as executive-like rather than befitting a chair. The tension between Manifold's assertive style and board expectations over governance standards appears to have triggered the decision.
Manifold had held the chair position since October, meaning his tenure lasted roughly seven months. Ian Tyler has stepped in as interim chair while BP conducts a search for a permanent successor.
The latest turbulence comes as BP has stabilized its financial performance. The company pivoted back toward traditional oil and gas operations after abandoning a more aggressive climate strategy launched under Looney in 2020. That refocus appears to be working: BP's stock has outperformed some rivals this year, and first quarter earnings beat expectations.
Still, the rapid succession of leadership changes raises questions about the company's internal governance and culture. Whether O'Neill can establish steady direction amid continued upheaval remains uncertain.
Author James Rodriguez: "BP is burning through leadership talent faster than it's burning through oil, and that pattern eventually catches up with you."
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