BP ousts Chair Albert Manifold in surprise move, citing unnamed governance issues

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, Report informs via Reuters.

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.