BP announced today it has appointed Albert Manifold to succeed Helge Lund as chair of the company.
Lund’s decision to step down was revealed in April following a turbulent time for the company, which has watered down renewable energy targets in favour of a continued focus on oil and gas production.
Manifold (pictured) 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.
Manifold was the chief executive of CRH from January 2014 until December 2024 and played a key role in reshaping the company’s portfolio.
BP said 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.
Manifold 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 privately-owned engineering consultancy.
He 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 (Auchincloss) and the leadership team to accelerate delivery of BP’s strategy and drive compelling and sustainable shareholder value creation.”
BP’s senior independent director Dame Amanda Blanc led the succession process on behalf of the board.
She 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.”
Manifold is a certified public accountant and chartered accountant. He holds Master’s degrees in business administration and business studies, both from Dublin City University.