BP has appointed Albert Manifold as new chairman of the board. He will take office on 1 September and will then replace the Norwegian Helge Lund, who previously announced that he is leaving after pressure and criticism from the major shareholder and activist fund Elliott Investment Management.
Albert Manifold was previously CEO of the Irish building materials group CRH.
BP has been struggling against the wind for a while and presented a new strategy in February, where the goal is set to focus more on the production of oil and gas and increase profitability.
Helge Lund has been chairman of the board since the Swedish industrial leader Carl-Henric Svanberg left the post, after having held the position in BP's board 2010-2018.
