BP removes chairman Albert Manifold over governance concerns
The oil supermajor ousted Manifold less than a year after his appointment, sparking a 6% share slide and leaving the board seeking a permanent replacement. The company declined to detail the governance concerns.
May 26th 2026 · United Kingdom
BP has removed chairman Albert Manifold over serious concerns related to governance standards, oversight and conduct, the company announced Tuesday. Manifold had been in the role for less than a year, having been appointed to the position just last year. The oil giant's board immediately named Ian Tyler as interim chairman and said it will begin searching for a permanent replacement. The abrupt departure sent BP shares tumbling 6 percent before markets opened on the NYSE. The London-based company, one of five oil "supermajors" globally by revenue and profit, operates in about 60 countries. The company did not elaborate on the specific nature of the governance concerns that led to Manifold's removal.