BP Ousts Chairman Albert Manifold After Eight Months Over Governance Concerns
CRH•Former BP chairman Albert Manifold says he was removed after eight months without warning or explanation, following board concerns over governance standards, oversight, alleged aggressive behavior and mishandling of sensitive information. His dismissal consolidates CEO Meg O’Neill’s authority during BP’s ongoing leadership reshuffle.
1. Manifold’s Unexpected Dismissal
Albert Manifold was removed as BP chairman after just eight months on the job, stating he received no prior warning or clear explanation for his firing. He disputes the board’s characterization of his conduct and intends to challenge the narrative surrounding his departure.
2. Board’s Governance and Conduct Concerns
BP’s board cited “serious concerns” related to governance standards, oversight and conduct, with internal reports of aggressive behavior toward employees and mishandling of sensitive information. No further details have been provided, heightening questions about the company’s internal processes.
3. Authority Shift to CEO O’Neill
The decision solidifies the position of new CEO Meg O’Neill, whom Manifold had hired last year, enabling her to reshape BP’s leadership structure and strategic direction. O’Neill has already announced a restructuring plan within weeks of assuming the role.
4. Market and Investor Reaction
Investors had initially welcomed Manifold’s cost-cutting and strategic acceleration efforts, including swift executive appointments. Analysts now note that the board’s decision-making process will be under scrutiny as BP seeks to stabilize leadership and restore performance.
