BP ousts chairman Albert Manifold amid bullying and misconduct claims

BP has removed its chairman, Albert Manifold, after less than a year in the role. The decision follows claims of misconduct, including allegations of bullying and verbal abuse. Investor Neil Woodford has since criticised the board’s handling of the situation. Manifold took charge at BP in early 2023 and was key in shaping the company’s turnaround strategy. He also played a role in appointing the current chief executive. However, reports suggest his aggressive management style—described as 'volcanic'—led to tensions with colleagues.

The board dismissed him earlier this week, citing 'serious concerns' about his behaviour. Woodford, however, disputes this explanation. He argues that Manifold was ousted simply for being 'a bit dictatorial, a bit forceful, a bit too willing to drive change'.

This marks the third chairman to leave BP in as many years. Helge Lund, Manifold’s predecessor, was pushed out just 10 months ago. His departure came amid doubts over his ability to steer the company’s return to petrochemicals. Woodford now claims the frequent leadership changes make BP appear 'ungovernable'.

Despite the upheaval, BP’s share price has climbed 18.2% since January, closing at 517.7p on Friday. The rise follows oil price volatility linked to the Iran conflict.

Woodford has shifted blame away from Manifold, urging shareholders to scrutinise the non-executive directors instead. He questions whether the board acted fairly in removing the chairman so swiftly. BP now faces further uncertainty after another abrupt leadership change. The company’s share price remains strong, but investors may demand clearer governance. Woodford’s criticism adds pressure on the board to justify its decisions.