BP Names Ian Tyler Chairman After Removing Manifold Over Governance Issues
Leadership Changes and Governance at BP
Ian Tyler's Appointment as Chairman
Sept 2 (Reuters) - BP has appointed Ian Tyler, former CEO of building group Balfour Beatty, as its permanent chairman, it said on Wednesday, having fired Albert Manifold in May after less than a year in the position, citing governance and conduct concerns.
Board Member Amanda Blanc's Departure
Board member Amanda Blanc who oversaw both Manifold's and Tyler's appointments will not seek re-election at next year's annual general meeting and will step down once a successor for her has been found, BP said.
Background on Ian Tyler and Board Commitments
Tyler, also chairman of building materials firm Grafton Group and Senior Independent Director of mining company Anglo American, joined BP's board last year and had replaced Manifold on an interim basis in May.
Review of Board Commitments
"Given the significance of the role, Ian will review his existing board commitments to ensure that he can devote the appropriate time and attention to the company," BP said.
Albert Manifold's Response and Legal Action
Dispute Over BP's Version of Events
Manifold has said he disputed BP's version of events, which did not go into detail about the firm's conduct and governance concerns, and that he would not let this "false narrative" go unchallenged.
Legal Representation
Manifold hired law firm Mishcon de Reya to represent him after his ouster, a source familiar with the situation told Reuters in May.
Context of Manifold's Removal
Manifold's surprise removal came just under eight months after he took office to help oversee a strategy revamp to refocus BP on its oil and gas business, and followed years of management churn at BP.
(Reporting by Shadia Nasralla and Stephanie Kelly in London, additional reporting by Yadarisa Shabong in Bengaluru; Editing by Nivedita Bhattacharjee, Sharon Singleton and Louise Heavens)
