Why was BP Chairman Albert Manifold ousted, and what specific conduct issues were cited?

BP ousted Albert Manifold after less than eight months as chairman, citing 'governance and conduct issues'. Specifically, sources reported he met with activist shareholder Elliott Management without informing fellow board members directly, acted unilaterally and not in good faith toward the board, and engaged in bullying behaviour toward both executive and lower-level staff — actions that collectively made his position untenable.

Did Manifold’s meetings with Elliott Management violate formal BP rules, and how were they disclosed internally?

Manifold’s meetings with Elliott were not technically a breach of any specific rule and were not the main reason for his dismissal; however, they exemplified unilateral action inconsistent with board governance expectations. While he did not inform board members directly, he had informed BP’s investor relations team about the meetings, and per company protocol, such shareholder interactions should have been included in routine investor relations updates to the board.

Ousted BP Chairman Met Activist Shareholder Elliott Without Board Knowledge, Sources Say

May 28, 2026

BP dismissed chairman Albert Manifold after revelations he met activist Elliott Management without informing the board, causing share declines and renewed scrutiny over governance during a critical turnaround period.

reuters

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