BP backs Amanda Blanc to lead search for new chair despite investor concerns

Key Takeaways

• BP has backed Amanda Blanc to lead its search for a new chair for a second time, shrugging off investor concerns over her role at the company after the shock departure of its chair last week.
• Some shareholders have voiced concerns over Blanc, the senior independent director at the British oil company, running the process again after Albert Manifold’s short stint as chair.
• However, the BP interim chair, Ian Tyler, said in a statement: “At the request of the board, Amanda Blanc will lead the search process for BP’s next chair.
• As in previous searches, this will be a rigorous process involving the entire board and the final decision will reflect our collective view.” Blanc, who is also the chief executive of the insurer Aviva, led BP’s search for a successor to Helge Lund in 2025 which resulted in Manifold’s appointment as chair last July.
• At the time, she praised his “relentless focus on performance which is well suited to BP’s needs now and into the future”.