BP Chairman Disputes Dismissal Characterization

Albert Manifold, the former chairman of British energy giant BP, publicly disputed the company's characterization of his dismissal on Tuesday, May 27, 2026, adding uncertainty to the firm's leadership. BP had announced Manifold's abrupt termination, citing "serious concerns" regarding his leadership, governance oversight, and conduct. Manifold, who joined the board on September 1 and became chairman on October 1, stated he was "removed without warning and without explanation" and vowed to challenge the accusations.

BP's board appointed Ian Tyler as interim chair and initiated a search for a permanent replacement. The company declined to comment on Manifold's response. This executive turmoil follows previous leadership changes, including the departure of CEO Murray Auchincloss and his predecessor Bernard Looney, who was fired in 2023 for undisclosed personal relationships. BP's shares fell 4 percent in London on Tuesday and an additional 4 percent on Wednesday following the news.

Manifold's pledge to contest his dismissal could complicate the company's strategic direction, according to analysts at TD Cowen, who noted his role as a driving force in BP's strategy. The company had recently appointed Meg O'Neill as CEO in December, aiming to improve returns and focus on oil and gas production, which had seen its shares rise 20 percent year-to-date due to strong first-quarter earnings and rising crude prices.