BP has been plunged into fresh turmoil after the oil giant abruptly removed its chairman, Albert Manifold, triggering a sharp fall in the company’s share price and raising new questions about stability at one of Britain’s biggest energy firms.
The company’s shares dropped by more than 9% at one stage following the announcement before recovering slightly to close around 4% lower by the end of trading.
BP said Manifold had left with “immediate effect” after the board uncovered what it described as “serious concerns” relating to governance, oversight and conduct issues.
The move marks yet another major leadership controversy for the company following the resignation of former chief executive Bernard Looney in 2023 over allegations surrounding personal relationships with colleagues.
What happened?
Albert Manifold had only recently taken over as BP chairman, having been appointed in July 2025 and formally stepping into the role in October.
In a brief statement, BP said the board had been “surprised and disappointed” by information it had received and considered the issues raised to be unacceptable.
Reports suggest concerns centred on allegations of aggressive behaviour towards colleagues, with Reuters reporting that a whistleblower complaint led the board to conclude there was evidence of a wider pattern of conduct issues.
Manifold has strongly denied wrongdoing.
In a statement released after his departure, he said he had been “removed without warning and without explanation” and rejected claims surrounding his behaviour.
“I dispute entirely the characterisation of my conduct and I will not allow a false narrative to go unchallenged,” he said.
Why motorists should care
While boardroom disputes may seem distant from drivers filling up at the pumps, instability at major oil companies can have wider consequences for fuel markets, investor confidence and future energy investment.
BP remains one of the biggest players in the global oil and fuel supply chain, with operations spanning oil production, refining and petrol retailing across the UK and beyond.
Sharp movements in BP’s share price can also affect pension funds and investments held by millions of UK savers, as the company remains a major part of many retirement portfolios and FTSE 100 index funds.
The latest controversy also comes at a time when oil companies are already under pressure from investors over the transition to cleaner energy, fuel pricing and long-term profitability.
Concerns over governance
Questions about governance at BP had already been mounting before Manifold’s departure.
At the company’s annual general meeting last month, around 18% of shareholders voted against his re-election as chairman.
Shareholder advisory firm Glass Lewis had recommended investors oppose his reappointment due to concerns over governance standards.
The latest developments are likely to intensify scrutiny of BP’s leadership and corporate culture, especially after the company spent the last two years attempting to rebuild trust following previous controversies.
These allegations are, at best, speculative. There could well be some truth in the matter, but surely, the Chairman of the board should be presented with the facts, interviewed, and then allowed to defend himself against the “Charges” much the same as an alleged criminal would be. Am I alone in thinking that this could have been a witch-hunt, using unsubstantiated allegations, without due process. Perhaps we’re not getting told the true and complete facts of this matter.