BP has announced the immediate departure of its chairman, Albert Manifold, following a unanimous decision by the board. The energy major stated that Mr Manifold should no longer serve as chairman and director, effective Tuesday, 26 May 2026.
The company cited “serious concerns raised to the board related to important governance standards, oversight and conduct” as the reason for the abrupt change in leadership.
While BP did not elaborate on the specific nature of these concerns, reports from sources close to the matter suggest issues including alleged aggressive and verbally abusive behaviour towards colleagues, an attempt to exert executive-like control, and mishandling of confidential company information. The BBC has reported the conduct alleged includes concerns around “bullying” and “overbearing” behaviour.
Following the announcement, BP’s share price experienced a notable decline, dropping by over 4% in both US and UK markets. The London Stock Exchange saw an initial plunge of up to 9% before recovering to around a 4% fall.
Mr Manifold had been in the chairman role for approximately eight months, having been appointed on 1 October 2025. His departure follows a period of significant strategic shifts at BP, including a renewed focus on traditional fossil fuel extraction, moving away from previous ambitious net-zero targets.
This leadership change also comes just weeks after Meg O’Neill took over as Chief Executive Officer on 1 April 2026. Ms O’Neill was appointed following the departure of former CEO Murray Auchincloss in December 2025.
The recent Annual General Meeting (AGM) on 23 April 2026 saw 18.23% of voted shares cast against Mr Manifold’s re-election as a director. This lower-than-typical approval rate of 81.8% was influenced by proxy advisory firm Glass Lewis, which had recommended shareholders vote against him.
Glass Lewis’s concerns were primarily linked to BP’s decision to exclude a resolution filed by climate activist group Follow This from the AGM agenda. The resolution sought a report detailing BP’s strategy for creating shareholder value under scenarios of declining oil and gas demand.
Amanda Blanc, BP’s senior independent director, commented on the situation, stating: “Albert has helped bring a welcome focus and pace to BP’s transformation. However, the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action.”
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In the interim, Ian Tyler has been appointed as interim chairman. He affirmed the board’s confidence in the company’s direction.
BP recently reported robust first-quarter results for 2026, with underlying replacement cost profit reaching $3.2 billion, a significant increase from $1.38 billion in the same period last year. This profit surge was attributed partly to strong oil prices, benefiting the company’s renewed focus on hydrocarbon extraction.
