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Ousted BP chair Manifold says not everyone shared his cost cutting, portfolio priorities - Finance news and analysis from Global Banking & Finance Review
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Ousted BP chair Manifold says not everyone shared his cost cutting, portfolio priorities

Published by Global Banking & Finance Review

Posted on May 28, 2026

2 min read

· Last updated: May 28, 2026

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Ousted BP Chair says he may have 'pushed hard', but denies misconduct

Leadership Turmoil and Allegations at BP

By Shadia Nasralla

Background of Albert Manifold's Dismissal

LONDON, May 28 (Reuters) - Ousted BP Chair Albert Manifold said on Thursday that not everyone at the oil major shared his priorities to cut costs and boost efficiency and acknowledged he may have "pushed hard" for change, but again denied any misconduct. 

Comments on BP's New Leadership

He also described newly appointed CEO Meg O'Neill and finance chief Kate Thomson, along with their executive colleagues, as "brimming with integrity".

Details of the Board's Decision

In the latest leadership turmoil at BP, the board dismissed Manifold on Tuesday after just eight months in the job, citing serious concerns over his governance standards.

Allegations of Aggressive Behavior

Four sources with knowledge of the matter told Reuters that Manifold had acted aggressively towards colleagues across the company, which was one reason for his removal.

A BP spokesperson said on Thursday the group stood by its statements and had a duty of care to all its employees.

Manifold's Response to Allegations

Denial of Misconduct

'DETERMINATION TO DRIVE CHANGE'

"Is it possible that in my determination to drive change on costs, performance, the balance sheet and shareholder communications, I pushed hard and challenged people directly? Yes, it is," Manifold said in a statement.

"What I do not accept is that lies can be told about me, nor that anyone should be allowed to hide behind anonymity when commenting on my time at BP," he added.

Legal Representation and Next Steps

A source with knowledge of the matter told Reuters on Wednesday that Manifold had hired law firm Mishcon de Reya to represent him after his dismissal.

A spokesperson for Manifold declined to comment on Thursday on any potential action he may take against BP. 

(Reporting by Shadia Nasralla. Editing by Joe Bavier and Mark Potter)

Key Takeaways

  • Manifold, ousted amid governance and conduct concerns, had pressed for urgency on cost reductions and asset simplification as chair since October 2025 (apnews.com)
  • He lamented that not all at BP aligned with his cost-cutting and debt-reduction agenda, despite track record of reshaping portfolios at CRH (bp.com)
  • Manifold nonetheless described incoming CEO Meg O’Neill and CFO Kate Thomson as “brimming with integrity”; O’Neill began her role in April 2026 and Thomson has served as CFO since February 2024 (en.wikipedia.org)

References

Frequently Asked Questions

Why was BP chair Albert Manifold ousted?
Albert Manifold implied his focus on cost cutting and portfolio priorities did not have full support within BP.
What were Albert Manifold's key priorities at BP?
His main priorities included cutting costs, simplifying the portfolio, and strengthening BP's balance sheet.
Who are the new executives at BP?
Meg O'Neill was appointed as CEO and Kate Thomson as CFO.
How did Manifold describe BP's new leadership?
He described the new executive team as 'brimming with integrity.'
What issues did Albert Manifold highlight upon his departure?
He pointed out that not everyone at BP shared his approach to cost reduction and portfolio simplification.

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