Ousted BP Chair Denies Bullying and Misconduct Claims
Uniper Sees Gas Shortage in Winter If Storage Rates Don't Speed Up CityAM.com is the online presence of City A.M., London's first free daily business newspaper. Both platforms cover financial and business news as well as sport and… BP’s ousted chair has hit back at the group’s decision to fire him over governance issues, launching a robust defence of his short-lived tenure on the supermajor’s board and rejecting the “false narrative” surrounding his sudden departure.
In a move poised to plunge the London-listed energy giant into a full-blown governance crisis, Albert Manifold defended his record as chair, and said he drove “genuine change at BP – cutting costs, challenging excess and holding the organisation to higher standards”.
“The board’s statement this morning acknowledged the focus and pace I brought,” he added.
“I dispute entirely the characterisation of my conduct and I will not allow a false narrative to go unchallenged.” Manifoldwas ousted suddenlyby BP directors on Tuesday, having served just eight months in post, after “serious concerns” about his conduct were reported to the group’s board.
Dame Amanda Blancsaid the boardhad discovered a wave of instances of serious misconduct, with reports of “volcanic” behaviour and bullying claims emerging after BP’s initial statement.
“The board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action,” Blanc said.
BP’s remuneration chair Ian Tyler was appointed to head up the board on an interim basis while the hydrocarbons giant hunts for a permanent replacement to Manifold.
But the episode extends a period ofserial leadershipupheaval at the energy major, which has had three chairs in the past year and four chief executives since 2020.
Several of those personnel changes have taken place suddenly due to governance or performance issues.
As well as Manifold,Bernard Looney, the boss between 2020 and 2023, resigned amid allegations over “personal relationships with colleagues”.
Tony Hayward – who ran the company between 2007 and 2010 – stepped down abruptly after BP’s mismanagement of theDeepwater Horizon disaster.
Maurizio Carulli, global energy analyst at Quilter Cheviot, said Manifold’s departure was “certainly a surprise”.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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