BP removes chair Albert Manifold amid leadership churn
Money MovesBoard ousts chair after eight months, citing governance and conduct concerns as strategic reset continues
May 26th, 2026: Board removes Manifold; Tyler named interim chairNew here? Follow stories to track developments over time. Create a free account to get updates when stories you care about change.
Overview
Updated May 26BP's board removed chair Albert Manifold on Tuesday, eight months after he took the role. London-listed shares fell as much as 9%. Directors cited serious concerns about governance standards, oversight and conduct.
The ouster is BP's third change at the top in seven months. CEO Murray Auchincloss left in December and Meg O'Neill took over in April. BP is mid-pivot back toward oil and gas, and the chair seat now sits vacant while the board hunts for a permanent successor.
Why it matters
Three leadership changes in seven months have left BP without a permanent chair as it executes a major pivot back toward oil and gas.
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British oil and gas major, one of the world's largest energy companies by revenue.
US activist hedge fund that has pressed BP for deeper cost cuts and a sharper focus on oil and gas.
Timeline
February 2025 May 2026
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Board removes Manifold; Tyler named interim chair
Latest GovernanceBoard votes unanimously to remove Manifold over governance and conduct concerns. Shares drop as much as 9%.
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Manifold draws weak AGM support
Shareholder voteManifold re-elected with about 82% of the vote, a soft showing for a sitting chair. Climate proposals also rebuffed.
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Meg O'Neill becomes CEO
GovernanceFormer Woodside Energy chief takes over BP. First woman to run one of the global oil majors.
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CEO Murray Auchincloss steps down
GovernanceAuchincloss leaves after less than two years. Carol Howle named interim CEO. Meg O'Neill announced as permanent successor.
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Manifold takes the chair seat
GovernanceManifold formally succeeds Helge Lund as BP chair.
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Albert Manifold named as incoming chair
GovernanceFormer CRH chief executive named to replace Lund. BP cites his record running a large industrial group.
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Chair Helge Lund announces departure
GovernanceBP says Lund, who championed the prior green push, will step down in 2026. A search for a new chair begins.
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BP announces strategic reset
StrategyCEO Murray Auchincloss scraps prior green-energy targets and pivots BP back toward oil and gas under pressure from Elliott Management.
Historical Context
3 moments from history that rhyme with this story — and how they unfolded.
Tony Hayward exits BP after Deepwater Horizon (2010)
BP CEO Tony Hayward stepped down three months after the Deepwater Horizon rig explosion killed 11 workers and spilled around 4 million barrels into the Gulf of Mexico. The board pushed him out after a string of public missteps, including his 'I'd like my life back' remark. Bob Dudley, an American, replaced him.
BP took a $32 billion charge against the spill and sold tens of billions in assets to fund cleanup and claims.
The disaster reshaped BP's executive turnover pattern. The company has now changed CEO four times in roughly 15 years.
BP has a long pattern of crisis-driven leadership turnover. Manifold's removal extends that pattern into the chair seat.
Carlos Ghosn ousted as Nissan chair (2018)
Nissan's board removed Carlos Ghosn as chair days after his arrest in Tokyo on charges of underreporting income and misusing company funds. Ghosn had run the Renault-Nissan alliance for nearly two decades and dominated both boards.
Ghosn was held in Tokyo for months. Nissan booked governance failings publicly and overhauled its board structure.
Ghosn eventually fled Japan in a music-equipment case and the Renault-Nissan alliance frayed. The case became a reference point for boards confronting a dominant chair.
Like Ghosn, Manifold was described by colleagues as exerting executive-level control from the chair seat. Boards now move faster when they conclude a chair has overstepped.
Steve Easterbrook fired by McDonald's (2019)
McDonald's fired CEO Steve Easterbrook for a consensual relationship with an employee, calling it a violation of company policy and 'poor judgment.' Later evidence prompted the company to claw back his exit package.
Easterbrook left with a severance package the board later sued to recover.
McDonald's recovered tens of millions in compensation. The case became a template for boards acting fast on conduct issues by top officers.
Boards have grown quicker to remove senior figures over conduct, even when underlying business performance is intact.
