Albert Manifold, the recently ousted chairman of energy giant BP, has publicly refuted allegations surrounding his behavior, stating he does not accept the “lies” that have emerged following his abrupt dismissal earlier this week. Manifold, who served as chairman for less than a year, asserted that individuals should not be permitted to “hide behind anonymity” when discussing his tenure at the company.
Manifold issued a statement on Thursday responding to reports detailing the reasons for his removal. BP’s board terminated his position with immediate effect on Tuesday, citing concerns that reportedly included “bullying” and “overbearing” conduct.
In response to Manifold’s statement, a BP spokesperson confirmed the company’s stance. “We note the comments of our former chair. We stand by the statement we have made. We have a duty of care to all our employees, particularly those impacted by his behaviour,” the spokesperson said.
BP has declined to provide specific details regarding whether bullying behavior was a factor in his dismissal, but confirmed the board’s decision was unanimous.
Manifold acknowledged the board’s decision to remove him but maintained that no issues concerning his conduct or relationships with colleagues were ever brought to his attention during his time as chairman. “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,” he stated.
His statement also suggested that his focus on shareholder interests and cost-cutting measures may have created friction. “Where I saw unnecessary or excessive expenditure, I called it out,” Manifold explained, implying his priorities were “not always shared by everyone” at the company.
He further elaborated on his personal spending habits to counter any suggestions of extravagance. “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,” he added.
The removal followed a Tuesday announcement by senior independent director Amanda Blanc, who stated the board was “surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action.”
Manifold joined BP in September and was appointed chairman the following month. At the time of his appointment, BP highlighted his “strong track record of strategic leadership and operational delivery.”
Reflecting on his chairmanship, Manifold conceded that his drive to “drive change on costs, performance, the balance sheet and shareholder communications” might have led him to challenge people directly and push hard. “But there is a considerable distance between driving an organisation with urgency and the characterisation of my conduct that is now being put about,” he argued.
Manifold’s departure occurs shortly after BP’s annual general meeting last month, where nearly 20% of shareholders voted against his re-election, citing governance concerns.
The situation raises questions about corporate governance and leadership accountability within major corporations. It highlights the delicate balance between driving performance and maintaining a respectful workplace culture. The swift action by the BP board underscores a potential shift towards zero tolerance for alleged misconduct, regardless of an individual’s position.
For employees and shareholders, the events at BP signal a period of potential instability and introspection. The focus now shifts to the board’s ability to restore confidence and appoint a successor who can navigate these challenges effectively. Investors will be watching closely for how the company addresses its governance issues and leadership vacuum in the coming months.
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