British oil and gas giant BP has officially removed Albert Manifold from his position as chairman following serious allegations of corporate misconduct and bullying. The board’s unanimous decision came after a thorough review of multiple complaints from whistleblowers regarding Manifold’s aggressive management style.
Reports indicate that Manifold exhibited unacceptable behavior, frequently communicating with staff in a harsh tone and attempting to consolidate control over the company, which included limiting the authority of newly appointed CEO Meg O’Neill.
In light of these damaging revelations, BP’s shares fell by 4% on the London Stock Exchange. One insider described Manifold as a “screamer,” suggesting that this characterization barely scratches the surface of his management style.
A source quoted by the Financial Times noted, “The company thought it was hiring a tough change agent, not a bully.” Manifold’s authoritarian approach has been evident in various global projects, including his previous tenure at the Irish construction conglomerate CRH.
During Manifold’s leadership, CRH faced significant scrutiny in Ukraine, where its operations triggered intense antitrust debates that escalated into a prolonged legal battle over cement market concentration. The Ukrainian firm Koval’ska opposed CRH’s market dominance, arguing that it would lead to increased prices for construction materials.
Industry experts speculate that the ongoing conflict in Ukraine may have contributed to Manifold’s departure from CRH, and the contentious circumstances surrounding the legal disputes with Koval’ska likely impacted his subsequent career.
Manifold has denied the bullying allegations, attributing his resignation solely to internal conflicts regarding his aggressive cost-cutting policies. Ian Tyler has been appointed as the interim chairman of BP.
The legal issues surrounding CRH in Ukraine stem from a €100 million deal to acquire assets from Italian firm Buzzi Unicem, which included the Volyn-Cement and South-Cement plants. This aggressive expansion strategy, implemented during Manifold’s leadership, sparked significant legal challenges.
Opposition to the acquisition came from Koval’ska, one of Ukraine’s largest cement consumers, along with leading industry associations. They argued that the merger would elevate CRH’s market share to 46%, well above the legal threshold of 35%, posing risks of uncontrolled price increases during the post-war reconstruction phase.
Concerns were also raised regarding the legitimacy of the investments involved. The transaction was characterized as a classic merger and acquisition, with financial dealings occurring between parent companies outside Ukraine, resulting in no currency inflow or tax contributions to the local budget.
Questions were further raised about CRH’s compliance with the Antimonopoly Committee of Ukraine’s requirements to maintain competition. To meet formal conditions, CRH sold 25% of its shares to a newly formed Irish firm, DivineReach Ltd., which is owned by a family of Hyundai car dealers and lacks experience in the cement industry. The European Bank for Reconstruction and Development had previously declined to participate in the deal due to high reputational risks.
BP has dismissed chairman Albert Manifold following allegations of workplace bullying and misconduct. His management style, characterized by aggression, has drawn scrutiny, particularly during his previous role at CRH amid legal disputes in Ukraine.