bp has dismissed its chairman Albert Manifold, with immediate effect, citing serious concerns over governance standards, oversight, and conduct.
The oil giant did not provide further details about the alleged failings related to governance.
In a statement released on Wednesday, bp’s Senior Independent Director, Amanda Blanc, acknowledged Manifold’s role in driving the company’s recent transformation but expressed deep disappointment over the sudden revelations.
“The board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action,” Blanc said.
The board has appointed Ian Tyler as interim chair with immediate effect, while a formal succession process for a permanent replacement is initiated.
Tyler sought to reassure investors, reinforcing the board’s absolute conviction in the company’s current strategic direction, operational performance, and strict financial discipline. He also threw his full support behind newly appointed CEO Meg O’Neill.
“bp is building a track record of strong underlying operational performance and a tight focus on financial discipline – all in the pursuit of growing shareholder value and returns,” Tyler said.
“The board has been very impressed with Meg O’Neill since she joined as CEO. She has extensive industry and operational experience and real clarity about the direction and opportunity for the business.
“She has already taken bold action to simplify and strengthen the organisation such as announcing the move to a clearly defined upstream/downstream model. Under her leadership we are building a simpler, stronger, more valuable bp.”
The shock dismissal marks another turbulent chapter for the British-based multinational, which has been plagued by boardroom instability and strategic U-turns over the past few years. Manifold succeeded Helge Lund as chair on October 1, 2025.
O’Neill is the third CEO to lead the company in recent years. In 2023, Bernard Looney resigned after failing to properly disclose past workplace relationships. His departure followed a controversial backflip, where bp abandoned publicised plans to slash oil and gas production in favour of green energy.
Looney’s successor, former CFO Murray Auchincloss, lasted less than two years in the top job before O’Neill took the reins.
