The unexpected ousting of BP’s chairman has spiraled into a contentious blame game, with insiders connected to Albert Manifold suggesting he was ousted by a coup due to his intentions to revamp the boardroom.
These allegations, which have been refuted by a source linked to the company, suggest that the coup was orchestrated by Amanda Blanc, BP’s senior independent director known for her formidable presence in the financial sector.
Manifold’s sudden exit was revealed in a succinct announcement on Tuesday, which pointed to ‘serious concerns’ regarding his behavior. Blanc remarked that his actions had left the board ‘surprised and disappointed.’
Following the announcement, reports emerged with anonymous sources alleging Manifold exhibited ‘aggressive’ and ‘bullying’ behavior.
However, in an unexpected 773-word statement released yesterday, Manifold defended himself.
He stated that although he had ‘pushed hard’ to meet his objectives at the FTSE 100 company, there was a significant gap between his forceful leadership style and the current descriptions of his conduct being circulated.
Revolt: Ousted BP boss Albert Manifold, left, claims the oil giant’s senior independent director Amanda Blanc, right, led a coup against him over his plans for a boardroom overhaul
Manifold added: ‘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.
‘At no point in my tenure as chairman of BP has anyone raised with me any issue about my conduct or my relationship with my colleagues.
Indeed, in my 40-year working career, I have never once had accusations made against me such as those made in recent days. I dispute entirely this characterisation of my conduct.’
BP said in response: ‘We stand by the statement we have made. We have a duty of care to all our employees, particularly those impacted by his behaviour.’
Shares in UK-listed BP were little changed yesterday, ending 0.1 per cent, or 0.4p, higher at 515p following two days of declines.
Manifold said his plans had included an effort to ‘streamline and refresh the board’ and a review to improve its ‘efficiency and effectiveness’. He added that he wanted to ensure there was no ‘culture of entitlement’.
Manifold believes it was this that prompted BP’s board to abruptly sack him less than a year into the job in an effort led by Blanc, according to people familiar with the matter.
A source close to Manifold said: ‘His work was not universally welcome.’
According to a report in the Financial Times, company secretary Ben Mathews had clashed with Manifold, who yesterday said that as he sought to bring down costs and ‘set an example’ he had eschewed the trappings of office such as private jets, chauffeur-driven cars and corporate tickets to sporting events.
The statement appeared to let slip that this was in the context of a plan to lay off ‘thousands of people’.
Despite the war of words, Manifold praised Meg O’Neill, the former US oil executive appointed to BP’s top job last month, as ‘ambitious and very talented’.
The briefing war threatens to drag the company into a messy legal battle with Manifold, who is understood to have hired City law firm Mishcon de Reya to act for him.
It has also turned the spotlight on Blanc, who is chief executive of insurance giant Aviva. She led the search that resulted in Manifold’s hiring and is now tasked with finding his replacement.
‘I rejected private jets and walked in to work’
Albert Manifold said he wanted to ‘set an example’ at BP as he set out his version of events.
‘When I arrived at BP last year, I found a company that, in my view, lacked strategic cohesion and direction,’ Manifold said.
‘I sought to accelerate cost reduction, simplify the portfolio and strengthen the balance sheet.
‘Where I saw unnecessary or excessive expenditure, I called it out. I had no interest in having a dedicated chauffeur-driven limousine at my beck and call on the occasions that I was in London.
‘I, like most people, walked, took taxis, trains, etc. I had no interest in taking private aviation nor in availing myself of corporate tickets for sports events.
‘I made my own coffee, bought my lunch in the local cafe. I sat in a small office, eschewing the grand corner-office privilege of previous chairmen.
I did these things because I wanted to set an example. In business, small signals matter in driving change and contribute to ensuring no company has a culture of entitlement.
‘It has been suggested I wished to exercise the role of executive chair but that is nonsense. I have been to BP’s head office in London on approximately 13 days in 2026. I am a part-time non-executive with many other commitments.
‘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.’
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