Full Breakdown
BP Removes Chairman Albert Manifold, Appoints Amanda Blanc to Lead Search for Successor
6/2/2026, 9:47:49 PM
Chairman Removal and New Search Leadership
On 1 June 2026 BP’s interim chair Ian Tyler announced that senior independent director Amanda Blanc will again head the search for a permanent chair after Albert Manifold was removed from the role after eight months. The board cited “serious concerns about his governance standards, oversight and conduct” as the reason for the termination, which sent BP’s share price down sharply.
Background: Recent Board Instability and Strategy Realignment
BP has experienced rapid leadership turnover since 2023. Bernard Looney was dismissed in September 2023 over undisclosed personal relationships; his successor Murray Auchincloss left in December 2025. Helge Lund’s chairmanship ended in July 2025 when Albert Manifold was appointed to drive a shift back toward fossil-fuel extraction, a strategy later reaffirmed by new CEO Meg O’Neill.
Key Figures
- Amanda Blanc – Senior independent director, CEO of Aviva, led the 2025 chair search.
- Albert Manifold – Former CRH chief executive, BP chair from Oct 2025 to June 2026.
- Ian Tyler – Interim chair, board spokesperson.
- Meg O’Neill – BP chief executive, former ExxonMobil executive.
- William Lin – Head of gas and low-carbon division, announced departure in 2026.
- Follow This – Shareholder activist group that opposed Manifold’s re-election.
- Large London-based investors – Expressed doubts about Blanc’s suitability to lead the second search.
Timeline of Leadership Changes
- Sept 2023 – Bernard Looney removed as CEO.
- Dec 2025 – Murray Auchincloss dismissed as CEO.
- Oct 2025 – Albert Manifold appointed chair.
- Apr 2026 – Meg O’Neill becomes CEO.
- June 2026 – Manifold ousted; Blanc re-appointed to lead chair search.
Shareholder Reaction and Market Impact
At Manifold’s 2025 re-election, 18 % of votes opposed his return after he blocked a Follow This resolution on oil-demand risk. Following his removal, Reuters reported a share-price decline of up to 10 %, while Streamline cited a drop of more than 4 %. Institutional investors in the City of London have publicly questioned Blanc’s impartiality given her role in Manifold’s original appointment.
Official Statements & Responses
Ian Tyler said the board will conduct “a rigorous process involving the entire board” and that the final decision will reflect a collective view. Meg O’Neill thanked outgoing gas-division head William Lin for “his leadership, impact, and longstanding commitment to BP.” The board emphasized that the removal addressed “unacceptable conduct” rather than strategic disagreement.
Criticism & Opposition
Several large investors argued that Blanc’s involvement compromises the independence of the search, echoing commentary that the episode “could be resolved only by a takeover bid from Shell.” Follow This highlighted governance risks, noting that the board’s lack of transparency on the specific conduct concerns hampers shareholder confidence.
Conflicting Reports & Gaps
Sources differ on the magnitude of the share-price reaction (10 % vs. >4 %). The board has not disclosed the precise nature of the “governance oversight and conduct issues,” leaving a substantive information gap.
Verbatim Quotes
- “At the request of the board, Amanda Blanc will lead the search process for BP’s next chair. As in previous searches, this will be a rigorous process involving the entire board and the final decision will reflect our collective view.” — Ian Tyler, interim chair
- “I dispute entirely the characterisation of my conduct and I will not allow a false narrative to go unchallenged.” — Albert Manifold, former chair
- “The best outcome for shareholders, on this reading, would be a takeover bid from Shell to put everybody out of their misery.” — Nils Pratley, commentator
- “his leadership, impact, and longstanding commitment to BP” — Meg O’Neill, BP chief executive
- “governance oversight and conduct issues it [the board] deems unacceptable” — Amanda Blanc, senior independent director
What’s Next
The BP board will convene a search committee, including Blanc and interim chair Tyler, to identify candidates. A shortlist is expected before the next annual general meeting, with the new chair to be appointed later in 2026.
