BP names new chair after boardroom bust-up
Oil giant BP has named its new chair after a boardroom bust-up earlier this year sent its leadership into chaos.
The FTSE 100 giant has tapped Ian Tyler, who has served as interim chair since 26 May. Tyler joined BP as a non-executive director in April 2025.
He replaces Albert Manifold, who was stripped of his roles as chair and director of the oil major in May after taking the reins in July 2025.
The ousting was reported to have been due to his “volcanic” temper towards colleagues, which stretched to verbal abuse and bullying. Manifold has disputed the characterisation of his conduct.
BP director Amanda Blanc, who also serves as the chief executive of insurer Aviva, said at the time: “The board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action.”
Blanc led the search for Manifold’s replacement. She described Tyler as bringing “significant experience providing challenge and support to executive teams, while maintaining strong governance and oversight on behalf of shareholder”.
The insurance chief is also expected to step down once an indepenent sucessor is found.
BP’s rocky year
The reshuffle in the top ranks also came after former boss Murray Auchincloss departed his role as chief executive after just under two years. He was replaced by former Woodside chief executive Meg O’Neill, who formally stepped into the role in April.
BP shares have suffered a choppy year, underperforming many of its supermajor peers. The firm’s stock dropped after the public spat emerged following Manifold’s ousting, but it has also enjoyed a steady set of gains amid the rise in energy prices.
The group recorded its highest quarterly profit since 2023 on the back of the volatility caused by the conflict in the Middle East. In its first results since the war in Iran broke out in February, BP posted a surge in profit to $3.2bn (£2.3bn) for the first three months of the year, up from $1.3bn the prior year.
It credited the surge to rocketing oil prices, stating it reflected “exceptional oil trading” in addition to “seasonal inventory builds”.
The board announced a dividend of 8.3 cents per ordinary share and plans to reduce its hybrid bond financing by roughly $4.3bn.