BP removes chairman Albert Manifold after ‘serious concerns’ over conduct

BP has removed chairman Albert Manifold in the face of “serious concerns” related to his conduct, oversight and governance at the oil giant.

The London-listed firm said its board “unanimously decided that (he) should no longer serve as chair and director with immediate effect”.

Amanda Blanc, senior independent director at BP, said: “Albert has helped bring a welcome focus and pace to BP’s transformation.

“However, the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action.”

The board has appointed Ian Tyler as interim chairman and launched a search process for a permanent replacement.

Shares in BP dropped by as much as 5% after Manifold’s departure was confirmed.