“The board acted after concerns were raised about governance and conduct.”
BP has removed its chairman, Albert Manifold, with immediate effect after what the company described as serious concerns over governance, oversight and conduct.
The decision was announced on Tuesday and immediately sent shock through the energy industry, where BP is already under pressure from investors over strategy, performance and long term direction.
The company said the board moved quickly once the issues were identified, and confirmed that Ian Tyler will step in as interim chair while a permanent replacement is found.
A BP statement said the concerns were significant enough that the board felt it had no option but to act.
“We believe this decision is necessary in the best interests of the company,” a company representative said.
Manifold, who only took over the role in October, had been leading BP through a period of internal restructuring and a renewed push toward oil and gas investment after years of shifting strategy on energy transition plans.
Inside the company, the move has been described as abrupt. One senior industry source said the board discussion escalated quickly once governance issues were formally raised.
“It moved very fast once the concerns were put on the table,” the source said.
The removal also triggered an immediate reaction in financial markets. BP shares fell after the announcement as investors assessed the stability of the leadership change during a sensitive period for the company.
Analysts say the timing adds more pressure to an already complex moment for BP, which has been trying to balance investor demands, energy transition commitments and rising geopolitical risks affecting global oil markets.
A market analyst said the leadership change could raise short term uncertainty.
“Any sudden change at the top of BP creates questions about direction,” the analyst said.
Ian Tyler, who has now stepped in as interim chair, is expected to stabilize board operations while the search for a permanent chairman begins. The company has not given a timeline for the appointment process.
Employees were informed shortly after the public announcement, according to people familiar with internal communications. Some described a sense of surprise, given the relatively short time Manifold had been in the role.
Outside the company, attention is now shifting to what triggered the governance concerns and whether this signals deeper disagreements within BP’s leadership structure.
Energy sector observers say leadership instability at this level is unusual, especially for a company of BP’s size, and could influence investor confidence in the short term.
“It raises questions about what is happening behind the scenes,” another industry source said.
BP has not provided further details on the nature of the conduct issues, and said additional updates will be shared when appropriate.
For now, the company says its operations and strategic direction remain unchanged, even as it moves quickly to stabilize its top leadership after the sudden removal.
