Ousted BP Chairman Albert Manifold has strongly denied accusations leveled against him. He stated he does not accept the 'lies' surrounding his behaviour. Mr. Manifold was removed as chairman earlier this week. He served in the role for less than a year. He believes no one should hide behind anonymity when discussing his time at BP.
Mr. Manifold issued a statement following reports about his conduct. BP's board removed him with immediate effect on Tuesday. A BP spokesperson responded to his statement. 'We note the comments of our former chair,' the spokesperson said. 'We stand by the statement we have made.' BP added, 'We have a duty of care to all our employees, particularly those impacted by his behaviour.'
Reports suggest Mr. Manifold's removal was due to concerns about 'bullying' and 'overbearing' behaviour. BP has declined to comment directly on whether bullying was a factor. The board's decision to dismiss him was unanimous. Mr. Manifold stated on Thursday that he accepted the board's decision. However, he claimed issues regarding his conduct were never raised during his time as chairman. He emphasized his 40-year career had no prior accusations of this nature. He disputes the characterisation of his conduct entirely.
Mr. Manifold also shared that his priorities as chairman, particularly shareholder interests, were not universally shared. He stated, 'Where I saw unnecessary or excessive expenditure, I called it out.' He clarified he had no interest in private jets or corporate tickets for sports events. He also mentioned making his own coffee and buying lunch locally. This suggests a focus on cost savings and efficiency.
According to senior independent director Amanda Blanc, the board was 'surprised and disappointed.' This was due to learning of governance oversight and conduct issues they deemed unacceptable. They then took decisive action. Mr. Manifold joined BP last September. He was appointed chairman the following month. At the time of his appointment, BP noted his 'strong track record of strategic leadership and operational delivery.'
Commenting on his chairmanship, Mr. Manifold suggested his drive for change could have been misinterpreted. He aimed to improve costs, performance, the balance sheet, and shareholder communications. He acknowledged he might have 'pushed hard and challenged people directly.' However, he stressed that driving an organisation with urgency differs significantly from the current characterisation of his conduct. Mr. Manifold's departure follows concerns raised at BP's last annual general meeting. Nearly a fifth of shareholders voted against his election due to governance worries.