Ousted BP chair Albert Manifold clashed with company secretary before removal

{"text":[[{"start":10.6,"text":"Ousted BP chair Albert Manifold clashed with company secretary Ben Mathews before his removal from the oil major this week, according to four people familiar with the matter."}],[{"start":21.15,"text":"Manifold was dismissed by the board, which cited “serious concerns” over “governance standards, oversight and conduct” at BP, while people close to the company have alleged that some of his behaviour towards multiple colleagues amounted to “bullying”."}],[{"start":35.8,"text":"Mathews, one of BP’s longest-serving senior officers, had concerns about the Irish businessman’s conduct before his departure, some of the people said. Mathews declined to comment."}],[{"start":47.05,"text":"BP’s interim chair Ian Tyler said: “As we have made clear, our former chair was removed as a result of unacceptable conduct. We have a duty of care to protect all our employees and as such we will never comment on specific people or situations.”"}],[{"start":63.849999999999994,"text":"Manifold hit back against the allegations about his conduct on Thursday, describing them as “lies” from people hiding “behind anonymity”, and took aim at the situation he had inherited at BP when he started as chair in September."}],[{"start":77.19999999999999,"text":"He said BP had “lacked strategic cohesion and direction” and that it was failing on “urgency of delivery”. Manifold added that he had sought to have a “relentless focus” on shareholders’ rights and making BP better, but “it felt to me that my priorities were not always shared by everyone”."}],[{"start":93.19999999999999,"text":"Manifold, who built Dublin-based building supply company CRH into a global operator, has hired law firm Mishcon de Reya since being forced out of BP, according to people familiar with the matter. "}],[{"start":106.69999999999999,"text":"“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,” Manifold said in a statement. “Indeed, in my 40-year working career, I have never once had accusations made against me such as those made in recent days.”"}],[{"start":null,"text":"

"}],[{"start":124.24999999999999,"text":"One person close to Manifold said the former chair had argued with Mathews over costs. The person alleged that Mathews had been a “driver” of BP’s decision to remove Manifold. "}],[{"start":134.64999999999998,"text":"Mathews, who joined BP in 2019 and previously worked at HSBC and Rio Tinto, is a highly experienced company secretary and has also chaired the FTSE 100’s Association of General Counsel and Company Secretaries. "}],[{"start":149.79999999999998,"text":"At BP, his role was to advise the board on corporate governance. He reported directly to Manifold, and helped with preparations for the company’s annual meeting, which was widely seen as having gone badly for the then chair."}],[{"start":162.95,"text":"More than 18 per cent of BP investors voted against Manifold’s election at the AGM, while the company failed in its attempt to revoke two previous shareholder resolutions that required the energy group to release climate-related data."}],[{"start":179.1,"text":"Mathews is “taking time off” after having dealt with the departures of both previous chair Helge Lund and Manifold in rapid succession, said one of the people. "}],[{"start":189.75,"text":"His temporary absence adds to the upheaval in BP after a tumultuous period. Manifold is just the latest high-profile departure in the past three years, following Lund and chief executives Bernard Looney and Murray Auchincloss. "}],[{"start":204.5,"text":"The company has been pivoting away from an energy transition strategy launched by Looney in 2020, which saw the oil and gas major pledge to spend more on renewables. It has since reversed course, refocusing on oil and gas after its share price performance lagged behind peers."}],[{"start":221.7,"text":"Manifold acknowledged it was possible that in his “drive” to improve performance at BP he had “pushed hard and challenged people directly” but said there was “a considerable distance between driving an organisation with urgency and the characterisation of my conduct that is now being put about”."}],[{"start":240.04999999999998,"text":"Some colleagues believed Manifold was exerting control more akin to an executive chair, a characterisation he disputes, arguing in Thursday’s statement that he had only been to BP’s London head office “on approximately 13 days in 2026”."}],[{"start":256.2,"text":"The person close to Manifold said they were not aware of any tensions between the ousted chair and new BP chief executive Meg O’Neill, who voted alongside the board for his removal. "}],[{"start":266.75,"text":"Manifold had played a key role in appointing O’Neill, who previously ran Woodside Energy before starting at BP in April, becoming the first woman to lead an oil major. "}],[{"start":277.15,"text":"The former chair praised O’Neill in his statement on Thursday saying she was “ambitious and very talented”, adding that he believed that the chief financial officer, Kate Thomson, was a “level-headed CFO who I know will navigate the company through the difficult waters ahead as BP manages its balance sheet”. "}],[{"start":295.2,"text":"If you have insight into the issues raised in this article, please contact [email protected] or [email protected]. We want to hear from you"}],[{"start":313.79999999999995,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1780064815_7751.mp3"}