Albert Manifold Appointed as Chairman
Albert Manifold Named New Chair of BP
After a comprehensive global search, Albert Manifold has been appointed as the new chair of BP, succeeding Helge Lund who will conclude his tenure on October 1st. Manifold will join the BP board as a non-executive director and chair-elect on September 1st, officially becoming the chair on October 1st.
Manifold brings a wealth of experience to BP, having served as the Chief Executive Officer (CEO) of CRH plc, a Dublin-based global building materials supplier, from January 2014 until December 2024. Before becoming CEO, he had built over 30 years of experience in the building materials industry, including 22 years at CRH, having joined the company in 1998.
Under Manifold's leadership at CRH, the company was transformed and refocused into a global leader, achieving superior growth, cash generation, and shareholder value. The firm's share price rose nearly eightfold, and its market capitalization substantially increased, reflecting strong operational and strategic performance.
Beyond CRH, Manifold holds non-executive roles at US-listed chemicals group LyondellBasell Industries NV and the engineering firm Mercury Engineering Unlimited Co. He is also an adviser to the board of CRH and to private equity firm Clayton Dubilier & Rice LLC.
BP selected Manifold for his strong track record in strategic leadership, operational delivery, cost efficiency, disciplined capital allocation, and shareholder value creation. These qualities are crucial as BP looks to navigate a challenging energy sector and improve its operational and share price performance. Amanda Blanc, BP’s senior independent director who led the succession process, praised his "relentless focus on performance" as well suited to BP's future needs.
Helge Lund's contribution to BP throughout the past seven years, including his leadership and dedicated service, has been invaluable. Manifold's appointment is considered the ideal candidate to oversee BP's next chapter due to his impressive track record of shareholder value creation at CRH.
In summary, Albert Manifold is a highly experienced executive with a long and successful career in the building materials industry, recognized for driving significant growth and value creation at CRH before his appointment as BP’s new chair in 2025.
In his extensive career within the industry, Manifold has demonstrated his ability to generate significant financial returns, having achieved an almost eightfold increase in CRH's share price.
BP's selection of Manifold was based on his strength in strategic leadership, cost efficiency, disciplined capital allocation, and shareholder value creation - qualities that will be essential in navigating the challenging finance sector for BP.
