BP appoints new chair after contentious ousting of Albert Manifold in May

BP has named Ian Tyler as its new chairman, marking a pivotal moment in the company's leadership transition following the controversial departure of Albert Manifold earlier this year. Tyler, who has been serving as interim chair since April 2025, takes up the role permanently effective immediately. His appointment follows a protracted search and aims to stabilize the board after the turbulent exit of Manifold, who was removed in late May after just eight months in the position. Manifold’s abrupt dismissal came amid allegations of governance and conduct issues raised by BP’s board. Amanda Blanc, BP’s senior independent director and head of insurer Aviva, led the search for a successor and announced her intention to step down from the chairmanship at the company’s annual meeting next year. Blanc had previously faced criticism over her involvement in Manifold’s appointment to succeed Helge Lund, the previous chair. She stated that while Manifold contributed to BP’s transformation, the board found his behavior unacceptable due to concerns over governance and conduct. Internal reports suggested that some senior executives felt disrespected by Manifold during his tenure. He was also accused of attempting to assert authority akin to that of a chief executive rather than a chairperson. Manifold denied these claims, asserting that he was fired without prior notice and contesting the reports regarding his conduct. Tyler, a seasoned corporate leader, brings extensive experience to the role. Previously, he served as chief executive of Balfour Beatty, a major construction firm, and currently chairs Grafton Group, a builders' merchant. Additionally, he holds positions on the boards of several other companies, including Anglo American, a mining giant, and BAE Systems, a defense contractor. Tyler has also previously chaired Cairn Energy and Vistry Group, a housebuilder. His appointment coincides with BP’s strategic pivot toward increasing fossil fuel production and reducing investments in renewable energy. This shift aligns with the broader industry trend of prioritizing traditional energy sources amid fluctuating global energy markets. Meg O’Neill, BP’s chief executive, recently encouraged Andy Burnham, the Greater Manchester mayor, to leverage the UK’s oil and gas reserves despite the company’s plans to divest its North Sea operations. O’Neill noted that North Sea investments are deemed uncompetitive within BP’s current portfolio. The decision reflects the company’s financial performance, which saw record quarterly profits driven by elevated oil and gas prices resulting from regional conflicts in the Middle East and ongoing tensions related to Russia’s invasion of Ukraine. Blanc expressed satisfaction with Tyler’s appointment, emphasizing his track record in providing constructive challenge and robust governance to executive teams. She highlighted his ability to maintain strong oversight on behalf of shareholders. Tyler, in turn, pledged to guide the board through its evolution, ensuring it possesses the necessary expertise and capabilities to support BP’s strategic goals and long-term value generation. He emphasized the importance of fostering open and consistent communication with shareholders to ensure transparency and alignment with their interests.