BP appoints new chair in continued restructure

Energy giant BP has found a new chair in ex Balfour Beatty boss Ian Tyler following the dismissal of Albert Manifold in May.

Tyler had only joined BP’s board last year and stepped up as interim chair after Manifold was ousted over “serious concerns” raised to the board over his governance and conduct.

Manifold has hit back at claims of misconduct, calling them “lies” and saying that members of the board should not be “allowed to hide behind anonymity”.

With the appointment of Tyler, Amanda Blanc, the CEO of insurer Aviva, has also decided to step down from her position on the BP board as senior independent director. She cited the welcome stability of Tyler and the new CEO Meg O’Neill in her decision to leave.

Blanc said: “I am delighted that the board has unanimously appointed Ian Tyler as chair of BP. Ian brings significant experience providing challenge and support to executive teams, while maintaining strong governance and oversight on behalf of shareholders.”

On Blanc’s decision, Tyler said: “While I had asked Amanda to stay, she believes that after four years and having just completed the management of the chair search process, now is an appropriate time to plan her departure from the board and I respect that decision.”

Away from BP, Tyler is also the chair of building company Grafton Group and senior independent director of Anglo American. He previously chaired Cairn Energy and served as non-executive director of BAE Systems.

He added: “I will lead the board’s evolution, ensuring we have the depth, experience and capabilities needed to support the company’s strategic priorities and long-term value creation.”