The British oil giant BP said on Tuesday that it had removed its chair, Albert Manifold, saying that the board had “serious concerns” about his governance and conduct, less than a year after he was appointed.
“The board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action,” Amanda Blanc, the senior independent director at BP, said in a statement.
The company did not elaborate on the details of the ouster, but said Ian Tyler would serve as interim chair. Mr. Manifold’s tenure at BP was brief: He joined the board in September and was appointed chair a month later.
BP has gone through a series of leadership changes in recent years, amid investor discontent over its strategy and performance. In December, the company replaced its chief executive, Murray Auchincloss, with Meg O’Neill, who had led Woodside Energy, Australia’s largest oil and gas company. Ms. O’Neill is BP’s first female chief executive and the first outside appointment.
Mr. Auchincloss’s predecessor, Bernard Looney, stepped down in 2023 after acknowledging that he had failed to disclose past personal relationships with colleagues.
BP’s shares fell more than 6 percent on Tuesday in London.
This is a developing story. Check back for updates.
