Ex-BP Chair Manifold Says Efficiency Priorities Not Shared by All

Ex-BP Chair Manifold Comments on Efficiency and Governance

Ousted BP chair Albert Manifold said on Thursday that he felt not everyone at the oil major had shared his priorities of cutting costs, simplifying the company's portfolio and strengthening its balance sheet.

However, he described newly appointed CEO Meg O'Neill and CFO Kate Thomson along with their executive colleagues as "brimming with integrity".

After the Leadership Turmoil at BP

In the latest leadership turmoil to rock BP, the board fired Manifold on Tuesday after just an eight-month stint as chairman, expressing serious concerns about his governance standards and conduct.

Four sources with knowledge of the matter said Manifold had acted aggressively with various colleagues across the company, citing that as one reason for his ouster.

In his statement, Manifold said: "Is it possible that in my determination to drive change on costs, performance, the balance sheet and shareholder communications, I pushed hard and challenged people directly? Yes, it is."

He added: "What I do not accept is that lies can be told about me, nor that anyone should be allowed to hide behind anonymity when commenting on my time at BP."

A source with knowledge of the matter told Reuters that Manifold had hired law firm Mishcon de Reya to represent him after his dismissal. A spokesperson for Manifold declined to comment on what action, if any, he was planning to take against BP.