Bitter war of words as sacked BP chair Albert Manifold fires back over 'lies'
The abrupt dismissal of BP’s chairman descended into bitter recriminations yesterday as sources close to Albert Manifold claimed he had fallen victim to a coup over his plans for a boardroom overhaul.The claim, denied by a source close to the company, was that the effort was led by Amanda Blanc, BP’s senior independent director and one of the City’s most formidable personalities.Manifold’s abrupt departure was announced in a terse statement on Tuesday, citing ‘serious concerns’ about his conduct, which Blanc said had left directors ‘surprised and disappointed’.That was followed by reports citing anonymous claims of ‘aggressive’ and ‘bullying’ behaviour. But in an extraordinary 773-word statement yesterday, Manifold hit back.He said that while he had ‘pushed hard’ to achieve his goals at the FTSE 100 firm, there was ‘considerable distance between driving an organisation with urgency and the characterisation of my conduct that is now being put about’. Revolt: Ousted BP boss Albert Manifold, left, claims the oil giant's senior independent director Amanda Blanc, right, led a coup against him over his plans for a boardroom overhaulManifold added: ‘What I do not accept is that lies can be told about me, nor that anyone should be allowed to hide behind anonymity when commenting on my time at BP.‘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. Indeed, in my 40-year working career, I have never once had accusations made against me such as those made in recent days. I dispute entirely this characterisation of my conduct.’BP said in response: ‘We stand by the statement we have made. We have a duty of care to all our employees, particularly those impacted by his behaviour.’Shares in UK-listed BP were little changed yesterday, ending 0.1 per cent, or 0.4p, higher at 515p following two days of declines.Manifold said his plans had included an effort to ‘streamline and refresh the board’ and a review to improve its ‘efficiency and effectiveness’. He added that he wanted to ensure there was no ‘culture of entitlement’.Manifold believes it was this that prompted BP’s board to abruptly sack him less than a year into the job in an effort led by Blanc, according to people familiar with the matter.A source close to Manifold said: ‘His work was not universally welcome.’According to a report in the Financial Times, company secretary Ben Mathews had clashed with Manifold, who yesterday said that as he sought to bring down costs and ‘set an example’ he had eschewed the trappings of office such as private jets, chauffeur-driven cars and corporate tickets to sporting events.The statement appeared to let slip that this was in the context of a plan to lay off ‘thousands of people’. Despite the war of words, Manifold praised Meg O’Neill, the former US oil executive appointed to BP’s top job last month, as ‘ambitious and very talented’.The briefing war threatens to drag the company into a messy legal battle with Manifold, who is understood to have hired City law firm Mishcon de Reya to act for him.It has also turned the spotlight on Blanc, who is chief executive of insurance giant Aviva. She led the search that resulted in Manifold’s hiring and is now tasked with finding his replacement.'I rejected private jets and walked in to work' Albert Manifold said he wanted to ‘set an example’ at BP as he set out his version of events.‘When I arrived at BP last year, I found a company that, in my view, lacked strategic cohesion and direction,’ Manifold said.‘I sought to accelerate cost reduction, simplify the portfolio and strengthen the balance sheet.‘Where I saw unnecessary or excessive expenditure, I called it out. I had no interest in having a dedicated chauffeur-driven limousine at my beck and call on the occasions that I was in London.‘I, like most people, walked, took taxis, trains, etc. I had no interest in taking private aviation nor in availing myself of corporate tickets for sports events.‘I made my own coffee, bought my lunch in the local cafe. I sat in a small office, eschewing the grand corner-office privilege of previous chairmen. I did these things because I wanted to set an example. In business, small signals matter in driving change and contribute to ensuring no company has a culture of entitlement.‘It has been suggested I wished to exercise the role of executive chair but that is nonsense. I have been to BP’s head office in London on approximately 13 days in 2026. I am a part-time non-executive with many other commitments.‘Is it possible that in my determination to drive change on costs, performance, the balance sheet and shareholder communications, I pushed hard and challenged people directly? Yes, it is.’DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
