The Board of British oil giant BP PLC has decided to remove Albert Manifold as Chair and Director due to concerns about governance standards and conduct. The decision was made unanimously and is effective immediately. The company, headquartered in London, has not disclosed specific details about the issues raised.
Ian Tyler has been appointed as the interim chair by the BP board, which has also initiated a search for a permanent new chief. According to BP’s Senior Independent Director Amanda Blanc, the board found governance oversight and conduct issues that it considers unacceptable, leading to the decisive action taken.
Interim Chair Tyler expressed confidence in the company’s strategic direction and operational performance. He emphasized BP’s commitment to financial discipline and creating shareholder value. The board praised Meg O’Neill, the CEO, for her industry experience and clear vision for the company. O’Neill has already implemented organizational changes to strengthen BP.
A succession process will be started to find a permanent Chair, as stated by the company.
