BP chair removed over 'serious' conduct concerns

Oil giant BP has removed its chairman Albert Manifold over "serious concerns" related to "important governance standards, oversight, and conduct".

Senior independent director Amanda Blanc said the board had been "surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action".

Manifold had been in the position less than a year. Shares slumped 4% following the news of his removal.

Ian Tyler has been appointed interim chair with immediate effect.

Manifold joined BP in September 2025 as a non-executive director and was appointed chair the following month.

At the time of his appointment, BP said Manifold had "a strong track record of strategic leadership and operational delivery".

His removal comes after BP reported a doubling in profit following a surge in oil prices since the beginning of the Iran war.

In its first results since the conflict broke out, the energy giant reported profits of $3.2bn (£2.4bn) between January and March after an "exceptional" performance in its oil trading business.