- BP
- 21 July 2025 07:48:54
Source: Sharecast
Manifold, who headed the builders merchant between 2014 and 2024, will join the board on 1 September and take over as chair on 1 October – at which point Lund still step down after five years at the helm.
BP said that Manifold was the "ideal candidate" following a "rigorous and comprehensive global search".
In a statement to the market on Monday, the company said the chartered accountant has a "strong track record of strategic leadership and operational delivery with a focus on cost efficiency, disciplined capital allocation and cash flow generation".
Lund announced his resignation in April following a reduced level of shareholder support for his reappointment, as investor pressure mounted for the company to pivot back to oil and cut investments on alternative energies.
"Having fundamentally reset our strategy, bp's focus now is on delivering the strategy at pace, improving performance and growing shareholder value. Now is the right time to start the process to find my successor and enable an orderly and seamless handover," Lund said in a statement two months ago.
Manifold said: "It is an honour to be appointed chair of one of the world's great energy companies, and to have the opportunity to help the company reach its full potential. bp has a vital role to play in addressing the world's growing energy needs. I look forward to working with the bp board, Murray and the leadership team to accelerate delivery of bp's strategy and drive compelling and sustainable shareholder value creation."