BP Plc has removed its chair, Albert Manifold, following serious concerns over his behaviour, including allegations of bullying. This marks the latest upheaval for the UK oil major, which has faced years of strategic and boardroom turmoil.
Allegations of Bullying and Governance Issues
Shares in BP fell 4% on Tuesday after the company announced it was removing Manifold less than a year after his appointment, citing issues with governance standards, oversight, and conduct. One person close to the company alleged that Manifold engaged in bullying inside BP, describing a pattern of unacceptable behaviour that violated the company’s code of conduct. BP reportedly received several whistleblower complaints against Manifold through its internal helpline.
Manifold, a former chief executive of Irish building supplies group CRH, was viewed by other BP directors as too aggressive. Several colleagues saw his level of control as more akin to an executive chair. He allegedly spoke down to senior staff in both one-on-one encounters and larger meetings. One person familiar with BP claimed that describing Manifold as shouty was understating it, adding that the board thought they were hiring a tough change agent, not a bully.
Impact on New CEO Meg O'Neill
The ousting comes weeks after Meg O’Neill became BP chief executive. One source claimed Manifold attempted to restrict O’Neill’s ability to meet independently with non-executive directors. O’Neill, who started in April and is BP’s first female CEO, forged a reputation as a tough operator at Australia’s Woodside Energy and reportedly bristled at challenges to her authority. She has swiftly split BP into two main business units, marking a return to its pre-2020 structure before its pivot to renewable energy.
Manifold told the Financial Times that BP’s decision came out of the blue and he needed time to reflect. BP declined to comment on complaints or the period of allegations. Amanda Blanc, BP’s senior independent director, stated that Manifold helped bring focus and pace to BP’s transformation, but the board was surprised and disappointed by unacceptable governance and conduct issues, leading to decisive action.
