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BP Ousts Chairman, Citing ‘Serious Concerns’ Over Conduct

The British oil group said that Albert Manifold had been removed, after concerns were raised “related to important governance standards, oversight and conduct.”

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A close-up of a white sign showing the green letters "BP" and a partial green and yellow logo shaped like petals. A bright blue sky is in the background.
BP has gone through a series of leadership changes in recent years, amid investor discontent over its financial performance. Credit...Luke Macgregor/Reuters

The British oil giant BP said on Tuesday that it had removed its chair, Albert Manifold, saying that the board had “serious concerns” about his leadership, less than a year after he was appointed.

“The board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action,” Amanda Blanc, the senior independent director at BP, said in a statement.

The company did not elaborate on the details of the ouster, but it said Ian Tyler, a board member since last April, would serve as interim chair.

Mr. Manifold’s tenure at BP was brief: He joined the board in September and was appointed chair a month later. Before BP, he spent nearly 30 years at CRH, a construction materials producer in Ireland, including a decade as its chief executive.

On a call with investors in February, Kate Thomson, BP’s chief financial officer, called Mr. Manifold “incredibly supportive” and said that he “brings a different style and that freshness is great.”

In Europe, the jobs of chief executive and chairman are almost always held by different people, unlike in the United States, where the roles are often combined.


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