Albert Manifold, the recently ousted chairman of BP, has publicly responded to his dismissal, suggesting that his commitment to cost-cutting may have played a role in his removal. Manifold, who served less than a year in the role, was dismissed by BP due to what the company described as “serious concerns” about governance and conduct.

Cost-Cutting Measures

In a detailed statement, Manifold defended his actions, highlighting his efforts to reduce unnecessary expenses at the company. He noted his preference for public transport over a chauffeur-driven limousine and his choice to make his own coffee and buy lunch from local cafes, rather than indulging in corporate luxuries. These actions, he claimed, were part of his strategy to set an example during a period when BP was laying off thousands of employees.

Manifold expressed that his approach was not always well-received within the company. He acknowledged pushing for changes in costs, performance, and shareholder communications, which may have led to tensions. However, he firmly disputed the characterization of his conduct as problematic, stating that no issues had been raised with him during his tenure.

Allegations and Response

BP has not provided specific details about the allegations against Manifold, but media reports suggest whistleblower complaints about bullying. Manifold did not directly address these allegations but referred to his statement, rejecting the “lies” being told about him. BP, in its statement, emphasized its duty of care to employees affected by Manifold’s behavior.

The leadership change comes amid a period of instability for BP, which has seen multiple CEO changes since 2019. The company’s shares have dropped by around 6.5% following the announcement of Manifold’s departure.

Original reporting: KRDO (Colorado Springs metro) — read the source article.