Ousted BP chairman considers legal action claiming he was sacked ‘without warning’
The ousted chairman of BP is understood to be considering legal action against the oil giant after complaining he was fired ‘without warning and without explanation’.
Albert Manifold was abruptly removed from the board on Tuesday after just eight months in the job due to what the company said were ‘serious concerns’ about his conduct.
Reports suggested this included ‘bullying’ and an ‘aggressive’ management style that had made him ‘impossible to work with’. But he yesterday disputed the ‘false narrative’.
His exit is the latest upheaval at the top of a FTSE 100 firm battling to restore its fortunes amid pressure from investors.
Manifold has not yet decided whether to contest his sacking, according to a source familiar with his plans.
But he has hired City law firm Mishcon de Reya to act for him should his exit descend into a legal battle, according to Sky News.
Ousted: Albert Manifold was removed from BP’s board on Tuesday after just eight months in the job due to what the oil giant said were ‘serious concerns’ about his conduct
A spokesperson for Manifold did not immediately respond to a request for further details, including on any next steps that were being considered.
But in a statement, the former boss of Irish construction group CRH said: ‘I dispute entirely the characterisation of my conduct and I will not allow a false narrative to go unchallenged.
‘I was removed without warning and explanation. During my time as chairman I worked to drive genuine change at BP – cutting costs, challenging excess and holding the organisation to higher standards.’
A source close to BP did not give details on any possible severance or notice period payments for Manifold, adding that any pay-off would be revealed in its annual report next year.
It came as the share price fell for the second day in a row, closing down 2.7 per cent, or 14.4p, at 514.6p, after falling 4pc on Tuesday.
The ousting represents a major setback for BP, which appointed him last year to help steer a turnaround as it tries to pivot back to fossil fuels following an ill-fated bid to shift to renewable energy.
It also presents a challenge for chief executive Meg O’Neill, who was appointed last month, becoming the first woman to lead a major oil company.
She has been tasked with stabilising the business.
Amanda Blanc, BP’s senior independent director, said as BP announced Manifold’s dismissal that directors had been ‘surprised and disappointed to learn of governance oversight and conduct issues’ related to Manifold and had ‘taken decisive action’.
Ian Tyler, a non-executive director, has been appointed interim chairman as the search for a successor starts.
Manifold’s departure was the latest dramatic change at the top.
In 2023, chief executive Bernard Looney, the main architect of its aborted switch to green energy, was ousted for not declaring past romantic relationships with staff.
He was followed last year by Helge Lund, Manifold’s predecessor, who had backed the renewables push. Looney’s successor, Murray Auchincloss, lasted less than two years after pressure from an activist investor to focus on oil and gas.
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