By Shadia Nasralla
May 26 (Reuters) – BP has ousted Chair Albert Manifold with immediate effect, it said on Tuesday, citing governance oversight and conduct issues, only months after his appointment to help oversee a strategy revamp.
BP has been rocked by scandal and repeated leadership changes in recent years. Less than three years ago, former BP CEO Bernard Looney was fired after lying to the board about personal relationships.
Looney’s successor Murray Auchincloss left abruptly in December, although BP did not publicly announce a search process for the top job or a clear reason for his exit.
Manifold oversaw the appointment of former Woodside CEO Meg O’Neill as BP’s fifth CEO since 2020 to accelerate the company’s shift in focus back to fossil fuel and away from renewable energy, a strategy change announced by Auchincloss early last year.
In a statement on Tuesday, BP said its board had unanimously decided that Manifold should no longer serve as chair and director with immediate effect.
“This follows serious concerns raised to the board related to important governance standards, oversight and conduct,” BP said.
“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,” said senior independent director Amanda Blanc. Blanc oversaw Manifold’s appointment in October.
A BP spokesperson declined to give further details.
In April, at BP’s annual general meeting, the board failed to get two of its resolutions accepted by shareholders and Manifold’s appointment as chair got less support than typical.
Proxy adviser Glass Lewis said at the time Manifold was ultimately accountable for BP’s decision to exclude a resolution filed by climate activist group Follow This and thus recommended a vote against him. His appointment was confirmed by around 82% of votes, which is below a typical tally near 100% for directors.
(Additional reporting by Raechel Thankam Job in Bengaluru; Editing by Anil D’Silva and Barbara Lewis)
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