BP Plc announced it has unanimously decided that Albert Manifold should no longer serve as Chair and director with immediate effect, following serious concerns raised to the board about governance standards, oversight and conduct.
The board has now appointed Ian Tyler as interim Chair and said it will initiate a process to appoint a permanent Chair.
Amanda Blanc, bp's Senior Independent Director, said Albert Manifold had helped bring focus and pace to bp's transformation but that the board had been surprised and disappointed by governance oversight and conduct issues it deemed unacceptable and had taken decisive action.
"The Board and leadership team have deep conviction in the strategic direction we have laid out, and the company is moving at pace to deliver it," Ian Tyler said.
Tyler said the board had been very impressed with CEO Meg O'Neill since she joined, highlighting her industry and operational experience and her move to a clearly defined upstream/downstream model as steps to simplify and strengthen bp.
