BP has named Albert Manifold as its next chair, advancing a leadership transition that underscores the company’s deeper strategic shift back toward fossil fuels. The appointment, announced on July 21, will take effect on October 1, with Manifold joining the board as chair-elect on September 1. He succeeds Helge Lund, whose departure from the role is being brought forward after six years at the helm.

The leadership change comes as BP redirects its focus toward traditional energy sources, moving away from the net-zero commitments and renewables investments that had defined much of the past decade. The company’s direction is widely seen as a response to both financial performance measures and increasing pressure from activist investors who argue that BP has lagged behind industry peers in delivering shareholder returns.

Albert Manifold brings to BP more than a decade of leadership experience at CRH, a global building materials company, where he served as chief executive from 2014 to 2024. Under his leadership, CRH underwent a significant transformation, expanding internationally and delivering consistent returns to investors.

According to BP’s official statement, Manifold is also a non-executive director at LyondellBasell Industries and Mercury Engineering. His appointment followed a global search led by Dame Amanda Blanc, BP’s senior independent director, who described Manifold as “a proven leader with strong financial and operational expertise, and a deep understanding of industrial strategy.”

Outgoing chair Helge Lund, credited with guiding BP through a period of transition toward cleaner energy, described it as “a privilege to serve during such a pivotal time.” He added that the board is well-positioned for the challenges ahead under new leadership.

Earlier this year, activist investor Elliott Management disclosed a significant stake in BP and began calling for changes to improve performance, including stronger capital returns and strategic clarity. Citing underperformance against competitors like Shell, ExxonMobil, and Chevron, investors have pushed for a more conventional approach to value creation through upstream development.

The appointment of Manifold is part of a broader reshaping of BP’s leadership. In recent months, the company has brought in new board members with extensive backgrounds in traditional energy markets, including former Shell chief financial officer Simon Henry and former Devon Energy CEO Dave Hager. Both are seen as voices that can help steer BP through a more fossil-fuel-focused phase of operations.