Summary of Recent Turmoil at BP

The UK supermajor BP is experiencing another high-profile leadership departure, adding to a pattern of instability that resembles the frequent changes at top football clubs rather than a major oil company. Chairman Albert Manifold was removed after just eight months, with the board citing serious concerns over governance standards, oversight, and conduct. This follows the exits of former CEOs Bernard Looney (2023) and Murray Auchincloss (2025), as well as Manifold’s predecessor Helge Lund (2025).

Manifold’s public challenge to his dismissal, including a rebuttal of media speculation, has prolonged the negative headlines and created an unwelcome distraction for investors. This comes after BP had recently begun to address years of underperformance and criticism over its pivot away from oil and gas. A renewed focus on oil and gas exploration, along with operational successes like 12 discoveries last year, had improved the company’s share price and sentiment, especially with veteran Meg O’Neill as CEO.

The latest departure raises questions about the board’s decision-making, particularly in selecting Manifold as Lund’s replacement. With Manifold’s version of events now public, investors seek clarity on internal governance issues. The board, which previously called Manifold the “ideal candidate,” must now find a new chair, leaving little room for further error.