Britain's BP has formally appointed Ian Tyler as chair following the unexpected dismissal of his predecessor Albert Manifold in May:
Tyler joined the company's Board as a non-executive director in April last year and was appointed interim chair on May 26:
BP stated that Tyler, who has worked alongside more than 15 CEOs, will assume his role immediately:
"Ian brings significant experience providing challenge and support to executive teams while maintaining strong governance and oversight on behalf of shareholders," said Amanda Blanc, BP's senior independent director:
She also announced that she will not stand for re-election at the 2027 annual general meeting:
Tyler mentioned that he had asked Blanc to stay, but she indicated that it was an appropriate time to plan for her departure:
"I will lead the board's evolution, ensuring we have the depth, experience, and capabilities needed to support the company's strategic priorities and long-term value creation," Tyler added:
Tyler's appointment comes as BP seeks to stabilize the company following years of executive turnover:
BP's shares have risen about 25% this year:
