BP Chairman Removed After Eight Months Over Governance Concerns
BCS•BP fired Chairman Albert Manifold after eight months, citing serious governance and conduct concerns, though no specifics were given. His dismissal, marking the third CEO turnover in three years, consolidates CEO Meg O’Neill’s authority and sparks uncertainty over BP’s leadership stability.
1. Leadership Shakeup at BP
BP removed Chairman Albert Manifold after just eight months on the job without warning or explanation, citing serious concerns related to governance standards, oversight and conduct. Manifold has disputed the board’s account and plans to challenge the decision.
2. Cited Governance and Conduct Concerns
The board’s statement referenced “serious concerns” but offered no detail, while there were complaints of aggressive behavior toward staff, mishandling sensitive information and attempts to bypass board processes. Manifold argued he drove cost reductions and raised governance standards during his tenure.
3. Strategic Implications Under Meg O’Neill
The dismissal consolidates authority under new CEO Meg O’Neill, whom Manifold appointed last year and who has already launched a major restructuring. Investors now face renewed uncertainty as BP undergoes its third CEO transition in three years.
