BP Taps Ian Tyler as New Chairman Amid Leadership Shake-Up

BP Plc has appointed Ian Tyler as its new chairman after ousting Albert Manifold from the role in May. The move is seen as a deliberate choice for stability following an 18-month period of boardroom upheaval, according to analyst Lydia Rainforth at Barclays Plc.

Tyler, who currently chairs Grafton Group Plc and is senior independent director of Anglo American Plc, joined BP's board in 2025. His appointment signals a desire for continuity under the leadership of new CEO Meg O'Neill, who has moved quickly to reshape the company since joining in April.

O'Neill has been streamlining the corporate structure and selling low-returning assets, benefiting from higher oil prices driven by the war in Iran. BP's shares rose 1.6% in London trading before paring gains, while investors have been closely watching the company's balance sheet repair efforts to resume share repurchases.

The ousting of Manifold was due to serious concerns related to 'governance standards, oversight and conduct,' according to BP, with Manifold being let go just eight months into his role. Senior independent director Amanda Blanc will step down from the board once a successor is appointed as senior independent director.