Albert Manifold's sudden exit from the major oil company is the latest in a series of leadership changes.
BP's abrupt ouster of Chairman Albert Manifold this week is the latest in a series of scandalous departures from the oil major.
BP PLC's (LSE:BP.) latest boardroom shake-up adds another layer of uncertainty to the oil major's investment case, analysts at Citi said in a note, though the bank believes valuation may still provide a floor for investors willing to look through the turbulence.
Former BP Chairman Albert Manifold said he'd been removed from his post "without warning and without explanation." His comments come after BP's board announced the removal of Manifold following "serious concerns" relating to governance standards, oversight and conduct.
Sources alleged Manifold's aggressive and unacceptable behavior towards colleagues.
BP (BP) ousted Chairman Albert Manifold over serious governance and conduct concerns, appointing Ian Tyler as interim chair. BofA raised Apple's (AAPL) price target to $380, citing AI assistant potential as a major driver of future leverage.
BP shares fell after the company ousted Chairman Albert Manifold over governance and conduct concerns, adding to years of executive upheaval.
CVX, XOM, BP, SHEL and CNQ offer high dividend yields, strong growth outlooks and rising earnings estimates amid market volatility.
Manifold was appointed to BP's board in October 2025 as part of a broader effort for the company to regain investor confidence. He opened his short tenure by reportedly asking employees to act with “urgency” to cut costs, sell assets and improve profits, as well as boosting investments in fossil fuels after a failed bet on renewable energy.
Shares in BP (LON: BP) slumped on Tuesday after the energy giant announced its board had removed chairman Albert Manifold in a shock move.
BP PLC (LSE:BP.) shares fell 6.2% to 525.6p after chairman Albert Manifold was abruptly removed after the board said it uncovered "governance oversight and conduct issues".
London-listed shares of BP were last seen down 9% on the news. In this article BP