{"id":503888,"date":"2026-05-26T19:03:12","date_gmt":"2026-05-26T19:03:12","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/503888\/"},"modified":"2026-05-26T19:03:12","modified_gmt":"2026-05-26T19:03:12","slug":"who-is-albert-manifold-and-why-has-he-been-removed-as-chairman-of-bp-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/503888\/","title":{"rendered":"Who is Albert Manifold and why has he been removed as chairman of BP? \u2013 The Irish Times"},"content":{"rendered":"

The end, when it came, was swift and brutal. After less than eight months in the role, Albert Manifold<\/a> was ousted as chairman of British energy giant, BP<\/a>, with immediate effect following \u201cserious concerns\u201d related to \u201cimportant governance standards, oversight and conduct\u201d.<\/p>\n

The board had been \u201csurprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action\u201d, Amanda Blanc, the senior independent director at BP, said.<\/p>\n

His profile was swiftly removed from BP\u2019s website. <\/p>\n

The precise nature of the issues that led to his surprise ousting was not revealed by the company.<\/p>\n

However, the Financial Times reported that Manifold was viewed by other directors as \u201ctoo aggressive\u201d, according to people familiar with discussions inside BP. Several colleagues saw the level of control he exerted as more akin to that of an executive chairman, according to the FT report. <\/p>\n

He was described by one person close to BP\u2019s board as \u201cshouty\u201d, according to the FT.<\/p>\n

Manifold joined the board of BP last September, becoming chairman on October 1st. The role commands a fee of \u00a31 million a year (\u20ac1.16 million).<\/p>\n

The company had been in turmoil following the departure of its Irish chief executive, Bernard Looney<\/a>, in late 2023, and strategic issues around Looney\u2019s decision to pivot into the renewables space. <\/p>\n

On Manifold\u2019s watch, the strategy was simplified, pivoting BP back to its oil and gas roots. Murray Auchincloss left as CEO in December last year, to be replaced by Meg O\u2019Neill in April. <\/p>\n

O\u2019Neill was the first woman to take the top job at BP, having forged a reputation as head of Woodside Energy. According to the FT, Manifold had attempted to restrict O\u2019Neill\u2019s ability to meet independently with the company\u2019s non-executive directors.<\/p>\n

Born in August 1963, Manifold grew up in Templeogue in south Dublin. His parents ran a hardware shop in nearby Kimmage. <\/p>\n

He played prop forward at Templeogue College in Dublin and went on to qualify as an accountant. He holds an MBA and a master\u2019s in business studies from Dublin City University. <\/p>\n

Having earlier worked in private equity in Dublin, Manifold joined Irish building materials giant, CRH <\/a>in 1998 and took over as chief executive in January 2014. <\/p>\n

He would go on to lead the company for almost 11 years, presiding over an almost 400 per cent surge in the share price as he moved the traditional seller of cement and other base materials into full-scale construction services. <\/p>\n

He ruthlessly sold off unwanted businesses during the period even as CRH continued to be one of Ireland\u2019s most acquisitive companies.<\/p>\n

In September 2023, CRH floated on the New York Stock Exchange, ditching its Irish listing in the process (it delisted from London earlier this year).<\/p>\n

For most of his time in charge of CRH, Manifold was the best paid CEO among companies listed on the Irish stock market and, at one point, he was the third best paid chief on the prestigious FTSE 100 index in London. <\/p>\n

He left CRH at the end of 2024, a year when he was paid $13.6 million (\u20ac11.7 million), marginally down on his earnings in 2023.<\/p>\n

His package comprised a base salary of just more than $1.9 million, a bonus of $4.3 million, $6.6 million as part of its long-term share plan, and $466,147 in benefits. His pension payment was nil. <\/p>\n

In addition, CRH paid $359,367 in third-party security costs at Manifold\u2019s home. He remained a consultant with CRH for 12 months after his departure. <\/p>\n

Manifold also cashed in over the years by selling large tranches of CRH shares. In March 2024, it was reported that he was selling $20.8 million worth of shares in the company. He had sold about \u20ac11 million worth of stock in the previous year. <\/p>\n

In an interview with The Irish Times in 2018, he defended his pay with CRH.<\/p>\n

\u201cI\u2019m very well paid for what I do if I deliver the results. If the shareholders get the benefit, I get the benefit,\u201d he said. \u201cI work in a global business. It\u2019s a challenging business and it\u2019s got demanding targets \u2013 and I\u2019m remunerated based on performance.\u201d<\/p>\n

Married with three children, Manifold has a home in south Wicklow. In BP\u2019s annual report he was listed as being a non-executive director at chemical and polymer group, LyondellBasell Industries, holding a similar role with Mercury Engineering, and as an adviser to Clayton Dubilier & Rice. <\/p>\n

In that same 2018 interview, Manifold listed his hobbies as keeping fit through gym work, cycling, running and walking.<\/p>\n

He also revealed that he is an avid beekeeper stemming from his childhood in Templeogue when he helped a local priest with his beehive. <\/p>\n

It\u2019s a hobby that might help salve the sting of being ditched so unceremoniously by BP. <\/p>\n","protected":false},"excerpt":{"rendered":"The end, when it came, was swift and brutal. After less than eight months in the role, Albert…\n","protected":false},"author":2,"featured_media":503889,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[73],"tags":[127624,39087,39086,79,8298,18,19,17],"class_list":["post-503888","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-albert-manifold","tag-bernard-looney","tag-bp","tag-business","tag-crh","tag-eire","tag-ie","tag-ireland"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116642434782225319","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/503888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=503888"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/503888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/503889"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=503888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=503888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=503888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}