Leadership shake-up at BP: Albert Manifold to succeed Helge Lund as chair

Rhea-AI Filing Summary

BP (NYSE: BP) filed a Form 6-K announcing the appointment of Albert Manifold as chair-elect, succeeding Helge Lund. Manifold will join the board 1 Sep 2025 as non-executive director and assume the chair role on 1 Oct 2025, when Lund departs the board. The notice follows a 'rigorous global search' led by senior independent director Dame Amanda Blanc.

Manifold spent a decade as CEO of building-materials giant CRH plc (2014-2024), where he strategically reshaped the portfolio and emphasised cost efficiency, disciplined capital allocation and robust cash flow generation. He currently serves as a non-executive director at LyondellBasell and Mercury Engineering and remains an adviser to CRH and Clayton Dubilier & Rice. The filing states no additional matters require disclosure under UK Listing Rule 6.4.8R and designates the release as inside information.

The succession brings an experienced operator with industrial and capital-markets credentials at a pivotal point in BP’s energy-transition strategy; however, investors will monitor the new chair for continuity of strategic direction and capital-return discipline.

Positive

• Seasoned leadership: Albert Manifold brings 10 years of CEO experience at CRH with a record of shareholder-value creation.
• Orderly succession: Defined timeline (board entry 1 Sep, chairship 1 Oct) reduces governance disruption and continuity risk.

Negative

• Leadership uncertainty: Any chair transition can introduce strategic and cultural shifts that investors must monitor.
• No financial guidance: Filing lacks details on how Manifold may adjust capital-allocation or low-carbon investment plans.

Insights

Corporate Governance Expert

TL;DR: Veteran CEO becomes BP chair; orderly transition mitigates risk, strategic continuity still to be proven.

Albert Manifold’s decade at CRH delivered above-peer TSR through portfolio reshaping and disciplined capital allocation—skills directly relevant to BP’s capital-intensive transition plan. Joining one month before taking the gavel enables early stakeholder engagement. Helge Lund’s exit after seven years removes potential dual-authority friction. Clean compliance under UK Listing Rule 6.4.8R indicates no hidden issues. Governance impact is positive, but investors will watch whether Manifold maintains focus on returns amid low-carbon investments.

Portfolio Manager

TL;DR: Governance positive but earnings catalysts unchanged; stock impact likely muted near-term.

Chair changes rarely re-rate mega-cap energy stocks unless tied to strategy shifts. Manifold’s operational pedigree is encouraging, yet dividend, buyback and Q3 earnings drivers remain unchanged. The announcement is housekeeping that strengthens board depth but offers no immediate financial guidance. I expect limited near-term share-price reaction; upcoming capital-markets communications will be more telling.

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

for the period ended 21 July, 2025

BP p.l.c.

(Translation of registrant's name into English)

1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual

reports under cover Form 20-F or Form 40-F.

Form 20-F |X| Form 40-F

--------------- ----------------

Indicate by check mark whether the registrant by furnishing the information

contained in this Form is also thereby furnishing the information to the

Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of

1934.

Yes No |X|

--------------- --------------

Exhibit 1.1 Albert Manifold appointed BP p.l.c. chair dated 21 July 2025

Exhibit 1.1

press release

21 July 2025

Albert Manifold appointed BP p.l.c. chair

BP p.l.c. ("bp") today announces that it has appointed Albert Manifold to succeed Helge Lund as chair of the company. He will join the company's board on 1 September as non-executive director and chair-elect, and will take over as chair on 1 October. At that point, Helge Lund will step down as chair and as a director of the bp board.  

Albert was the Chief Executive Officer of CRH plc ("CRH") from January 2014 until December 2024. Under his leadership CRH strategically reshaped its portfolio and delivered superior growth and performance. He has a strong track record of strategic leadership and operational delivery with a focus on cost efficiency, disciplined capital allocation and cash flow generation.

He is also a non-executive director at LyondellBasell, a global chemicals producer, listed on the New York Stock Exchange, and a non-executive director at Mercury Engineering, a leading privately-owned engineering consultancy. 

Dame Amanda Blanc, bp's senior independent director, who led the succession process on behalf of the board, said: "I am delighted that following a rigorous and comprehensive global search we have been able to appoint Albert as our new chair. His impressive track record of shareholder value creation at CRH demonstrates he is the ideal candidate to oversee bp's next chapter. 

"Albert has a relentless focus on performance which is well suited to bp's needs now and into the future. He transformed and refocused CRH into a global leader by building on its rich heritage to deliver superior growth, cash generation and returns.

"On behalf of the company, I would also like to thank Helge for his leadership and dedicated service to bp throughout the past seven years. His contribution through a period of immense change has been invaluable." 

Albert Manifold said: "It is an honour to be appointed chair of one of the world's great energy companies, and to have the opportunity to help the company reach its full potential. bp has a vital role to play in addressing the world's growing energy needs. I look forward to working with the bp board, Murray and the leadership team to accelerate delivery of bp's strategy and drive compelling and sustainable shareholder value creation."

Albert is a Certified Public Accountant, a Chartered Accountant, and holds a Master of Business Administration and a Master in Business Studies, both from Dublin City University. He remains a special adviser to the board of CRH and is also an adviser at Clayton Dubilier & Rice.

There are no additional matters that require disclosure under 6.4.8R of the UK Listing Rules.

This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of BP p.l.c., is Ben Mathews, Company Secretary.

Further information:

bp press office, London: bppress@bp.com, +44 (0)7831 095541                           

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BP p.l.c.

(Registrant)

Dated: 21 July 2025

/s/ Ben J. S. Mathews

------------------------

Ben J. S. Mathews

Company Secretary

FAQ

When will Albert Manifold officially become BP's chair?

1 October 2025, after joining the board as chair-elect on 1 September 2025.

Why is Helge Lund leaving BP's board?

The filing states that Helge Lund will step down as chair and director on 1 October 2025 as part of the planned succession; no additional reasons were disclosed.

What is Albert Manifold's background prior to joining BP (BP)?

He served as CEO of CRH plc from 2014-2024 and is currently a non-executive director at LyondellBasell and Mercury Engineering.

Does the Form 6-K disclose any other material information or obligations?

No. The company notes there are no additional matters requiring disclosure under UK Listing Rule 6.4.8R.

Is this announcement considered inside information under UK regulations?

Yes. BP explicitly states the release contains inside information.