The departure was abrupt and unexpected, with Albert Manifold having been appointed to the position late last year.
“Albert has helped bring a welcome focus and pace to BP’s transformation,” Amanda Blanc, senior independent director, said in a statement Tuesday. “However, the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action.”
BP’s board named Ian Tyler as interim chair, effective immediately.
The search for a new chair is underway, BP said.
BP, based in London, is a “supermajor,” one of the five largest oil production and exploration companies in the world by when measured by revenue and profit.
The company maintains operations in about 60 countries.
The company recently did a hard reset and returned to its roots after it had shifted its focus to renewable energy in 2020. The decision has been criticized by some shareholders and environmentalists.
CEO Murray Auchincloss said last year that optimism over opportunities in renewable energy was misplaced, with the company moving “too far and too fast.”
Auchincloss stepped down in December, and the company named Meg O’Neill as his successor.
More recently, like other oil companies, BP has struggled with falling demand in recent years.
BP’s 2025 earnings fell 16% from a year earlier to $7.49 billion as the price of Brent crude, a benchmark for international oil prices, dropped 16.9%. The company’s preferred measure of earnings is underlying replacement cost profit, which adjusts for one-time items and fluctuations in the market value of inventories. Net income plunged 86% to $55 million.
Shares of BP Plc slid 4% before the opening bell on the NYSE.
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Danica Kirka in London contributed to this report.
