Manifold Goes Public — And He's Furious

The ink was barely dry on BP's Tuesday announcement when Albert Manifold hit back.

In an emailed statement reported by The Guardian, Manifold said he was "removed without warning and without explanation" and added: "I dispute entirely the characterisation of my conduct and I will not allow a false narrative to go unchallenged."

BP's board called the firing unanimous. Senior independent director Amanda Blanc — the same person who oversaw Manifold's appointment in October 2025 — said the board was "surprised and disappointed" by what it found. Per NBC News, BP cited "serious concerns related to important governance standards, oversight and conduct."

Neither side is backing down.

The Elliott Connection

Reuters reported exclusively that Manifold had been meeting with activist hedge fund Elliott — which holds roughly 5% of BP's stock — without the direct knowledge of other board directors.

The chair of a publicly traded global oil company was holding private meetings with its most powerful activist shareholder, and his own board didn't know about it.

In corporate governance, the chair keeping secret contact with a major activist investor raises immediate questions: What was discussed? Was Manifold coordinating with Elliott on strategy, personnel, or board composition without authorization?

What The Board Says Happened

According to Reuters, the board received a whistleblower report that outlined a pattern of unacceptable behavior. The Financial Times — cited by The Guardian — reported that senior colleagues felt "belittled" by Manifold. Multiple sources described his behavior with colleagues as aggressive.

The FT also reported that Manifold was seen as trying to exert executive-level control over the company — acting more like a CEO than a non-executive chair. Chairs oversee boards. They don't run operations.

Manifold, for his part, says he was simply "cutting costs, challenging excess, and holding the organisation to higher standards." He claims the board acknowledged his contributions before firing him.

BP's Leadership Turnover

BP has experienced significant leadership instability:

• Former CEO Bernard Looney fired in 2023 for lying to the board about personal relationships with colleagues.
• Looney's replacement, Murray Auchincloss, pushed out abruptly in December 2025, with no clear public explanation given.
• Manifold himself hired as chair in October 2025 — gone in under eight months.
• Meg O'Neill is now BP's fifth CEO since 2020. She joined in April 2026.

Five CEOs in six years. Two chairs removed under clouds of controversy.

Coverage Gaps

Most outlets are framing this as a "conduct" story — aggressive boss, hurt feelings, board drama.

The Elliott meetings warrant closer scrutiny. If a chair ran a shadow communication channel with an activist investor unknown to the rest of the board, that has implications for how strategy decisions were actually being made and whether Elliott had material non-public information.

Also worth examining: Manifold hired Meg O'Neill as CEO. She remains in the job. The board kept her. Yet they found his conduct disqualifying everywhere else.

The Market Reaction

BP shares dropped almost 10% immediately after the announcement on Tuesday, according to NBC News. Trading was briefly halted. They recovered slightly to close down nearly 5%.

An index of European energy companies was down less than 1% that same day. This was a BP-specific reaction.

What Happens Next

Manifold is publicly contesting the narrative. Expect legal maneuvering, potential disclosures, and more leaks.

BP's board has named an interim chair but has a leadership structure that has collapsed repeatedly. O'Neill is running the company with a board in turmoil.

Elliott — the hedge fund at the center of the secret meetings — has stayed completely silent. Per NBC News, Elliott declined to comment.