6 days ago
The boardroom turmoil astatine BP deepened aft its ousted chair, Albert Manifold, claimed allegations astir his behaviour were “lies”.
In a caller and lengthy statement, Manifold disputed reports astir his conduct, saying: “At nary constituent successful my tenure arsenic president of BP has anyone raised pinch maine immoderate rumor astir my behaviour aliases my narration pinch my colleagues.”
He besides described media reports that he wanted to exert power of nan FTSE 100 institution for illustration an executive chair arsenic “nonsense”. Manifold said he had “many different commitments” and had only spent 13 days successful BP’s London agency truthful acold this year.
BP announced Manifold’s departure pinch contiguous effect connected Tuesday aft little than a twelvemonth successful nan role, expressing superior concerns about his governance standards, oversight and conduct.
Media reports, citing anonymous sources astatine nan company, described his behaviour pinch different colleagues crossed nan institution arsenic aggressive.
On Thursday, Manifold challenged those reports, saying: “What I do not judge is that lies tin beryllium told astir me, nor that anyone should beryllium allowed to hide down anonymity erstwhile commenting connected my clip astatine BP.”
Manifold was appointed chair successful October 2025, having antecedently served much than a decade arsenic nan main executive of nan Irish building materials institution CRH.
He was tasked astatine BP pinch overseeing nan continued change successful nan lipid company’s strategy, to refocus connected fossil substance extraction and ditch renewable power investments aft BP abandoned its effort to reinvent itself arsenic a nett zero power company.
Manifold conceded he whitethorn person “pushed difficult and challenged group directly” amid his “determination to thrust alteration connected costs, performance, nan equilibrium expanse and shareholder communications”.
However, he disputed reports from nan institution astir his behaviour, adding: “There is simply a sizeable region betwixt driving an organisation pinch urgency and nan characterisation of my behaviour that is now being put about.”
He said specified “accusations” had not been antecedently made astir his behaviour during his 40-year career. He added that he “called retired … unnecessary aliases excessive expenditure” but felt not everyone shared his priorities.
Manifold said he turned down galore of nan benefits traditionally enjoyed by apical executives, which he called a “culture of entitlement”, including chauffeur-driven cars, being flown by backstage pitchy aliases taking advantage of firm hospitality.
“I had nary liking successful having a dedicated chauffeur-driven limousine astatine my beck and telephone connected nan occasions that I was successful London,” he said. “I, for illustration astir people, walked, took taxis, trains, etc. I had nary liking successful taking backstage aviation nor successful availing myself of firm tickets for sports events. I made my ain coffee, bought my luncheon successful nan section cafe. I sat successful a mini office, eschewing nan expansive corner-office privilege of erstwhile chairmen.”
He said he did this to “set an example” astatine nan clip nan institution was cutting costs and slashing jobs.
Manifold said he believed BP had a “great future” and praised its executive squad nether nan main executive, Meg O’Neill, arsenic “honest, hard-working … brimming pinch integrity”.
BP suggested connected Tuesday that it would proceed nan strategy overseen by Manifold aft his departure, led by O’Neill, who was hired successful December.
The committee personnel Ian Tyler, a erstwhile main executive of nan FTSE 250 infrastructure group Balfour Beatty, has been appointed arsenic nan interim chair while a hunt for a imperishable replacement takes place.
BP said successful a connection connected Thursday: “We statement nan comments of our erstwhile chair. We guidelines by nan connection we person made. We person a work of attraction to each our employees, peculiarly those impacted by his behaviour.”
