'Bullying' and 'overbearing' behaviour behind abrupt BP chairman removal

'Bullying' and 'overbearing' behaviour behind abrupt BP chairman removal

Oil giant BP has made the immediate decision to remove its chairman, Albert Manifold, due to serious concerns regarding his "bullying" and "overbearing" behavior, as reported by the BBC.

The company emphasized that his dismissal stems from "serious concerns" associated with "important governance standards, oversight, and conduct".

Manifold's exit follows less than a year after he initially joined BP.

While BP has refrained from clarifying whether the allegations of bullying directly influenced his dismissal, the BBC has sought a comment from Manifold.

An individual familiar with the situation remarked: "This is a big lever to pull; you wouldn't take such action unless it was serious".

Senior Independent Director Amanda Blanc expressed the board's surprise and disappointment upon discovering governance oversight and conduct issues that were deemed unacceptable, leading to decisive action.

The board unanimously agreed on Manifold's removal.

Blanc previously led the search for a new chair following Helge Lund's departure last year after over seven years in the role.

Following the announcement of Manifold's removal, BP's shares experienced a decline of approximately 5%.

Ian Tyler, the senior independent director, has been appointed as the interim chair with immediate effect.

Background to Manifold's appointment

Manifold was recruited to realign BP's focus toward oil and gas, stepping away from an emphasis on renewable energy.

He joined BP in September 2025 as a non-executive director and became chair the following month.

At the time, BP praised Manifold for having "a strong track record of strategic leadership and operational delivery".

His dismissal occurs after BP announced a significant increase in profits, attributed to the rise in oil prices since the onset of the Iran war.

In its first fiscal results during the conflict, the energy giant reported earnings of $3.2 billion (£2.4 billion) between January and March, credited to an "exceptional" performance in its oil trading business.

Shareholder concerns

Manifold's departure follows last month's annual general meeting (AGM), where nearly 20% of BP shareholders voted against his election due to governance concerns.

Some of the criticism stemmed from BP's refusal to entertain a resolution filed by climate activists at the AGM, with Manifold stating that the resolution had not been submitted correctly.

Russ Mould, investment director at AJ Bell, noted that while there had been pressure for the company to move on from Manifold's predecessor, "not all investors were happy... as reflected by 18% of shareholders voting against his appointment—contrary to recommendations from governance experts Glass Lewis—at April's AGM".

He added that efforts to transition AGMs to an online-only format and changes in how the company reported on climate issues and its obligations did not resonate well with stakeholders.

Future leadership

BP announced it would initiate the search for a permanent chair.

Interim chair Ian Tyler expressed the board's "deep conviction" in the strategic path the company has established.

He highlighted how impressed the board had been with Chief Executive Meg O'Neill since her appointment in December.

"She has already taken bold action to simplify and strengthen the organization, such as announcing the transition to a clearly defined upstream/downstream model," he stated.

O'Neill succeeded Murray Auchincloss, who stepped down less than two years after replacing Bernard Looney.

Looney's resignation in 2023 stemmed from findings of "serious misconduct" related to undisclosed relationships with colleagues.

At the time of O'Neill’s hiring, Manifold served as the chairman of the board. There is currently no indication that O'Neill's position is at risk or that the company's strategic approach will shift.

Market reaction

Maurizio Carulli, global energy analyst at Quilter Cheviot, commented that while Manifold's role in securing the new chief executive was essential, his overall impact was "necessarily limited" given the short duration of his tenure.

Carulli suggested that the announcement of Manifold's departure was a "short-term negative", but acknowledged that BP had achieved "significant operational improvements and strategic refocusing over the past year, the results of which reflect the collective efforts of the entire organization and its management, rather than just one individual".