BP Appoints Former CRH CEO Albert Manifold as Next Chairman
BP PLC (LON:BP) (NYSE:BP) announced on Monday that Albert Manifold, former chief executive of building materials giant CRH (NYSE:CRH), will become the company’s next chairman, replacing Helge Lund on October 1. The leadership transition comes as BP continues to shift its strategy back toward oil and gas, following pressure from investors.
Manifold will join BP’s board on September 1 as a non-executive director and chair-designate, before officially stepping into the chairman role in October. Helge Lund, who has led BP during a period of ambitious climate initiatives, will step down as both chairman and board member at that time.
Following the announcement, BP shares edged up 0.2% in early London trading.
The leadership shake-up reflects a wider strategic pivot at BP, which has scaled back its green energy targets—a direction previously championed by Lund and former CEO Bernard Looney. Lund had announced plans in April to step down by 2026, but faced growing resistance from shareholders. His re-election received significantly lower support, amid criticism from activist investor Elliott Management and climate-focused groups.
Manifold brings more than a decade of executive experience, having transformed CRH’s global footprint and overseen the relocation of its primary stock listing to New York in 2023.
“Albert’s strong track record in delivering shareholder value at CRH makes him the right choice to guide BP through its next phase,” said Amanda Blanc, BP’s senior independent director who led the succession process.
Meanwhile, BP has recently been the subject of merger speculation. Last month, the Wall Street Journal reported that Shell had explored a potential acquisition of BP. However, Shell swiftly denied the report, saying it had not made a bid and was not actively pursuing such a deal.
Under U.K. takeover laws, Shell’s formal denial now prohibits it from making a new offer for BP for at least six months.
