BP has removed its chairman Albert Manifold with immediate effect, citing unacceptable governance and conduct issues. The decision, announced on Wednesday, deepens the leadership crisis at the London-listed energy giant, which has struggled to stabilise its top management for years.
The board said it had been "surprised and disappointed" to learn of the issues and had taken "decisive action," though it declined to provide specific details about the nature of the misconduct. Manifold had been in the role for less than eight months, having taken over as chairman in October 2025 after joining the board as chair-elect the previous September.
A Third Senior Exit Under a Cloud
Manifold becomes the third senior BP leader to depart under controversial circumstances in three years. Former chief executive Bernard Looney resigned in September 2023 after failing to disclose past sexual relationships with colleagues when he assumed the role. His successor, Murray Auchincloss, was removed earlier this year amid pressure from investors over the company's strategic direction and poor financial performance.
The latest departure prolongs a period of severe boardroom instability at a time when BP was supposed to be executing a turnaround. The company has been cutting debt, chasing shareholder returns, and attempting to simplify its structure under sustained pressure from activist investors. London-listed shares fell as much as 9% on the news before paring losses, closing nearly 6% lower.
Manifold had played a central role in accelerating BP's strategic pivot back toward fossil fuels, scaling back spending on transition energy assets in an effort to revive the company's ailing share price. He was also instrumental in the removal of Auchincloss and the appointment of his replacement, Meg O'Neill, who took over as chief executive earlier this year.
Interim Leadership and Strategic Continuity
Board member Ian Tyler has been appointed interim chair with immediate effect while a search for a permanent successor gets under way. In a statement, Tyler expressed the board's "deep conviction" in BP's current strategic direction and praised O'Neill's leadership since joining as chief executive. He described her decision to move to a clearly defined upstream/downstream model as "bold and necessary."
The upheaval at BP comes against a backdrop of broader energy market uncertainty. European energy companies are grappling with volatile prices, geopolitical risks, and the continent's push to accelerate the clean energy transition. The EU has been exploring ways to ease the energy crisis, including limited fiscal flexibility and a firm stance against returning to Russian gas and oil, as EU Economy Chief rules out any such reversal.
Meanwhile, Christian groups have urged the EU to tax fossil fuel profits and accelerate the clean energy shift, highlighting the tension between short-term shareholder returns and long-term climate goals. BP's renewed focus on fossil fuels under Manifold had drawn criticism from environmental advocates, who argue that the company is backtracking on its earlier commitments to reduce emissions.
The dismissal of Manifold raises questions about BP's governance and the ability of its board to provide stable oversight. With a third senior leader gone in three years, investors will be watching closely to see whether the company can finally break the cycle of turmoil and deliver on its promises of improved performance and strategic clarity.
