{"id":49734,"date":"2026-05-27T06:59:54","date_gmt":"2026-05-27T06:59:54","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/49734\/"},"modified":"2026-05-27T06:59:54","modified_gmt":"2026-05-27T06:59:54","slug":"bp-shares-plunge-after-chairman-ousted","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/49734\/","title":{"rendered":"BP shares plunge after chairman ousted"},"content":{"rendered":"\n

Oil giant BP has suffered a sharp fall in its share price following the shock announcement that its chairman had been removed by the company’s board.<\/p>\n

BP said Albert Manifold had left with “immediate effect” after “serious concerns” were raised.<\/p>\n

The board, which oversees the management of the business, had been “surprised and disappointed to learn of governance, oversight and conduct issues”, BP added, saying they were deemed unacceptable.<\/p>\n

Money blog: Major change to British Airways loyalty scheme tomorrow<\/a><\/p>\n

No more details were given to explain his ousting but Sky’s City editor Mark Kleinman later reported claims by company insiders<\/a> which related to Mr Manifold’s style of management.<\/p>\n

The Irishman had only been appointed in July 2025 and took up the post in October.<\/p>\n

The BP share price fell more than 9% at one stage following the company’s announcement – and trading was briefly halted, according to the Reuters news agency. The stocked ended the trading day 4% lower.<\/p>\n

At BP’s annual general meeting (AGM) last month, 18% of shareholders voted against his re-election. A shareholder advisory service, Glass Lewis, recommended investors oppose the re-election over governance concerns.<\/p>\n

It is the latest departure of a senior executive at the London Stock Exchange-listed fossil fuel producer.<\/p>\n

In September 2023, its chief executive Bernard Looney resigned<\/a> amid allegations over “personal relationships with colleagues”.<\/p>\n

An interim replacement, AIan Tyler, was appointed with immediate effect. Mr Tyler has served as an independent non-executive director at BP since April 2025.<\/p>\n

Lindsey Stewart, director of institutional investor content at the investment research firm Morningstar, said of the fallout: “With a resurgent share price so far this year, BP should be taking credit for the rewards of its strategic reset.<\/p>\n

“Instead, the company is on its third CEO and now it’s third chairman in under three years. It’s clear that getting a grip on corporate governance and strategy at the company must a priority of the interim chair and his eventual successor.”<\/p>\n

Who is Albert Manifold? <\/p>\n

In 2024, Mr Manifold retired as chief executive of building materials company CRH, having been with the company since 1998.<\/p>\n

CRH had been a constituent of the UK’s FTSE 100 index of most valuable companies on the London Stock Exchange.<\/p>\n

In 2023, however, it moved its primary listing to the New York Stock Exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"Oil giant BP has suffered a sharp fall in its share price following the shock announcement that its…\n","protected":false},"author":2,"featured_media":49735,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21198],"tags":[9141,67,6704,24741,24974,24725,5692,24973],"class_list":["post-49734","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bp","tag-albert-manifold","tag-bp","tag-bp-plc","tag-immediate-effect","tag-mark-kleinman","tag-oil-giant-bp","tag-share-price","tag-shock-announcement"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116645253746064565","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/49734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=49734"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/49734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/49735"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=49734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=49734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=49734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}