Ousted BP chair Albert Manifold rejects ‘lies’ over his conduct

Ousted BP Chairman Albert Manifold has rejected “lies” regarding his conduct, saying he “pushed laborious and challenged individuals straight” throughout his transient tenure on the British oil supermajor.

BP’s board on Tuesday introduced the removing of Manifold on account of “critical issues” regarding governance requirements, oversight and conduct.

A number of media retailers reported that Manifold, the previous boss of Irish constructing supplies large CRH, had acted aggressively with totally different colleagues throughout his practically eight months at BP, citing nameless sources.

In a scathing response issued on Thursday, Manifold mentioned that whereas he does settle for the board’s resolution to take away him as chairman, he didn’t settle for “that lies might be informed about me, nor that anybody must be allowed to cover behind anonymity when commenting on my time at bp.”

Manifold mentioned he felt that his priorities of simplifying the enterprise, driving change on prices and strengthening the vitality main’s steadiness sheet weren’t all the time shared by everybody, however “there’s a appreciable distance between driving an organisation with urgency and the characterisation of my conduct that’s now being put about.”

He added that nobody on the firm had raised any problem about his conduct with him throughout his time as BP chairman.

Manifold dismissed media stories suggesting he wished to train a extra govt position on the London-listed firm as “nonsense,” saying he had solely been to BP’s head workplace in London on roughly 13 days in 2026.

He signed off his letter by describing BP as an organization “with an excellent future,” saying that CEO Meg O’Neill, Chief Monetary Officer Kate Thomson and their govt colleagues have been “among the many best individuals I’ve labored with.”

A BP spokesperson mentioned the corporate famous the feedback of its former chair. “We stand by the assertion we now have made. Now we have an obligation of care to all our workers, significantly these impacted by his conduct,” the spokesperson mentioned in an e-mail to CNBC.

Shares of BP traded 0.4% decrease on Thursday morning.

The announcement of Manifold’s departure from BP got here as a shock to many analysts and traders earlier within the week, with the corporate presently within the midst of a basic strategic reset. BP is pivoting again to grease and fuel and away from renewables.

Former Woodside Power boss Meg O’Neill is main this transformation, having taken the reins as CEO at first of April.

Amanda Blanc, senior impartial director at BP, thanked Manifold’s contribution to BP’s ongoing transformation however mentioned the board had been “stunned and disenchanted to study of governance oversight and conduct points it deems unacceptable.”

BP appointed Ian Tyler as interim chair following Manifold’s dismissal, noting {that a} succession course of for a everlasting chair is about to get underway.

Simply final month, Manifold suffered an investor rebel at BP’s annual basic assembly. A majority of 81.8% of shareholders voted in favor of electing Manifold following a contentious resolution to dam a proposal put ahead by Dutch activist group Comply with This.