BP Appoints Former CRH CEO Albert Manifold as Chairman

BP has appointed Albert Manifold, the former CEO of building materials firm CRH, as its new chairman, replacing Helge Lund in October. Manifold’s appointment comes as BP shifts its strategy back toward fossil fuels amid shareholder pressure and challenges such as debt, poor share performance, and fallout from a failed commitment to reduce fossil fuel output. Dame Amanda Blanc, BP’s senior independent director, praised Manifold’s strong track record in performance and shareholder value creation, highlighting his ability to transform CRH into a global leader. Manifold expressed enthusiasm about helping BP reach its full potential and accelerating the delivery of its strategy to create sustainable shareholder value. The leadership change also occurs amid ongoing unrest among shareholders, activist campaigns for change, and recent denials from Shell regarding takeover speculation. Additionally, BP recently added Simon Henry, a former Shell finance chief, to its board as a non-executive director.