UK-based energy company BP has announced the appointment of Albert Manifold to serve as its new chairman from this autumn.
He will initially join the company as chair-elect and a non-executive member of the board from September 1. After a month, Helge Lund, the current chairman, will step down and leave BP’s board, so Manifold can take over the position.
Manifold previously worked at CRH plc (“CRH”) as chief executive between 2014 and 2024. BP emphasises his attention to cash flow generation, capital allocation discipline and cost efficiency, pointing to his track record. During his time at CRH, he improved performance and growth by reshaping the company’s portfolio.
Dame Amanda Blanc led the process of finding a successor to Lund. She said about Manifold’s appointment:
“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.”
She also thanked Lund for his seven years of dedicated leadership and the invaluable contribution he made during this period of great transformation.
BP currently owns the Castrol lubricant and coolant brand, although the company is currently seeking a buyer for the business. Murray Auchincloss, the company’s chief executive, announced a change of strategy earlier in the year with a renewed focus on its traditional oil and gas business. Lund said he felt it was then an appropriate time for the company to start looking for his successor.
