The ousted chair of BP has hit back at the “lies” surrounding his conduct, outlining how he made his own coffee, refused a chauffeur-driven limousine, and ate lunch at a local cafe during his tenure at the oil giant.
In an extraordinary statement, Albert Manifold, who was sacked this week due to “serious concerns” over his conduct, said he does not accept “that lies can be told about me, nor that anyone should be allowed to hide behind anonymity when commenting on my time at BP”.
Resisting claims that he behaved as a bully, Mr Manifold detailed in a lengthy statement how he chose to sit in a small office and had no interest in flying on private jets or going to major sporting events.
He wrote: “I had no interest in having a dedicated chauffeur-driven limousine at my beck and call. I, like most people, walked, took taxis, trains etc.
“I had no interest in taking private aviation nor in availing myself of corporate tickets for sports events.”
He continued: “I made my own coffee, bought my lunch in the local cafe. I sat in a small office, eschewing the grand corner-office privilege of previous chairmen.
“I did these things because I wanted to set an example.”
The 63-year-old, previously chief executive of Irish building materials firm CRH, also claimed that his priorities as the company’s chair, particularly his wish to protect shareholder interests, differed from those of others within the business.
The statement read: “When I arrived at BP last year, I found a company that, in my view, lacked strategic cohesion and direction. I also believe it lacked clarity on messaging, urgency of delivery, and I believe those issues could have impacted shareholders’ interests.
“From my very first day, I set out to address these matters and ensure that shareholder interests continued to be front and centre of everything that BP did.
“Throughout my professional career I have been a passionate advocate of shareholders’ rights and have had a relentless focus on simply making businesses better. I continued to do this during my time at BP, however, it felt to me that my priorities were not always shared by everyone.”
BP’s board removed him with immediate effect on Tuesday. Mr Manifold has said he “entirely” disputes the characterisation of his conduct, after sources alleged he was a bully and that there was “lots of yelling in meetings”.
In response to the allegations, he 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.
“But there is a considerable distance between driving an organisation with urgency and the characterisation of my conduct that is now being put about. At no point in my tenure as chairman of BP has anyone raised with me any issue about my conduct or my relationship with my colleagues.”
Legal action between Mr Manifold and the oil giant now seems inevitable. Mr Manifold was in line for pay and bonuses fees of £1m this year. It seems likely he will sue BP for this amount, loss of office, and serious damage to his corporate reputation.
BP has suffered a period of severe turmoil, with revolving doors seeing it lose chairs and chief executives with regularity, often under a cloud related to personal conduct.
BP shareholders have suffered, with the stock no higher than it was in 1999. It dropped sharply when Mr Manifold’s departure was announced. Shares were steady today at 51.4p, which leaves the business valued at £81bn.
BP said: “We note the comments of our former chair. We stand by the statement we have made. We have a duty of care to all our employees, particularly those impacted by his behaviour.”
