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BP Chair Ousted Amid Shareholder Clash

Financial Times Companies •
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BP shareholders slammed former chair Albert Manifold after his removal, calling him “challenging” and hard to reach. Manifold’s brief tenure saw BP shares climb 29 %, as he steered the company back toward oil and gas and appointed former ExxonMobil executive Meg O’Neill as CEO. This move followed disputes and pressure that questioned his leadership style.

Critics say Manifold avoided face‑to‑face meetings, preferring video calls, and that he was “condescending” and “arrogant” according to other shareholders. A spokesperson denied the claims, stating he met every investor requested and that online meetings were arranged by investor relations, not his initiative. The dispute underscores tensions between BP’s board and shareholders amid strategic realignment.

BP’s interim chair Ian Tyler said the former chair was removed for unacceptable conduct, noting a duty of care for employees. Manifold’s spokesperson stressed that technical questions at investor meetings were handled by the appropriate staff, such as the head of investor relations or company secretary, following standard practice, and that no conflicts arose today.

The 18 % of shareholders who voted against Manifold at April’s AGM reflect broader concerns over his leadership style and the company’s strategic direction. Shareholder sentiment may influence BP’s future governance choices, as investors press for clearer engagement and accountability amid a volatile energy market that rewards decisive action for shareholders who demand transparent corporate oversight.