BP Chairman Ousted in Abrupt Dismissal, Sparks Legal and Governance Crisis

BP Plc has removed Chairman Albert Manifold in a sudden termination that has escalated into a public dispute, with conflicting accounts about governance issues and alleged misconduct. The board acted unanimously on May 26, 2026, citing "serious concerns" about conduct, while Manifold claims he was dismissed without warning or explanation after eight months in the role. New revelations indicate he met secretly with activist shareholder Elliott Management, further complicating the governance crisis during BP's struggles with management instability.Bloomberg+2

🏛 Governance Dispute Intensifies

Manifold denies all allegations of bullying and misconduct, calling them "lies" in a detailed public statement. He claims to have raised concerns about excessive corporate spending, including refusing limousine travel and making his own coffee. The ousted chairman plans legal action, asserting the board provided no prior notice or opportunity to address concerns before his immediate termination.The Guardian+2

📉 Leadership Turmoil Deepens

The dismissal exacerbates BP's management crisis despite recent operational successes like discovering a major Brazilian oil field. Investors reacted negatively to the abrupt change, with shares declining amid broader market gains. New details about Manifold's undisclosed meeting with Elliott Management raise additional questions about boardroom transparency and decision-making processes.Bloomberg+2

⚡ Spending Controversies Emerge

Manifold's defense highlights internal conflicts over corporate expenditures, including his objections to limousine services and other luxury perks. This frugality claim contrasts sharply with BP's unspecified conduct allegations, creating competing narratives about financial governance. The dispute occurs during volatile energy markets with UK petrol price surges, complicating BP's operational challenges.The Independent+2

🔍 Succession and Legal Fallout

Senior Independent Director Amanda Blanc emphasized ethical standards while acknowledging Manifold's contributions. The board appointed an interim chair but faces mounting pressure to find a permanent successor who can navigate both the legal battle with Manifold and restore stakeholder confidence. The situation remains fluid as both sides prepare for potential litigation.The Independent+2