Key facts
- BP senior independent director Amanda Blanc will lead the search for the next chair.
- Interim chair Ian Tyler confirmed Blanc's role in the search process.
- BP's board ousted former chair Albert Manifold last week due to governance concerns.
- Blanc previously oversaw the appointment of the now-ousted chair, Albert Manifold.
- Reports suggest potential lack of shareholder support for Blanc's appointment.
BP's decision to have its senior independent director, Amanda Blanc, lead the search for a new chair comes amid some apprehension within the financial community (the City). This is particularly notable given Blanc's previous role in appointing Albert Manifold, whose tenure as chair was brief and ended with his ouster due to governance concerns. The company has experienced significant management churn in recent years, including the firing of former CEO Bernard Looney and the abrupt departure of his successor.