BP Names Ian Tyler as Chair After Manifold's Surprise Exit
· Business · CNBC, Reuters
BP has formally appointed Ian Tyler as its new chair, ending a search that began when predecessor Albert Manifold was removed with immediate effect in May after only about seven months on the board. Tyler, who joined BP's board as a non-executive director in April 2024 and was named interim chair on May 26, takes on the role immediately. Senior independent director Amanda Blanc will not seek re-election at BP's 2027 annual general meeting and will step down once her successor is named, extending a stretch of senior leadership turnover. The changes come as the London-listed oil major pivots back to core oil and gas and tightens financial discipline, with BP shares up roughly 25% year-to-date and around 0.4% higher on Wednesday. The company has not detailed the specific reasons behind Manifold's abrupt dismissal.
Why it matters
BP's renewed board leadership comes as the company refocuses on oil and gas and financial discipline after years of strategy shifts, a reset that influences global crude supply decisions, fuel pricing, and the returns delivered to long-term shareholders including Indian institutional investors with energy-sector exposure.
Read the original report — CNBC
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