BP (BP.L) has confirmed that Dame Amanda Blanc will step down as senior independent director, ending a turbulent chapter in the oil giant’s boardroom history.
The departure was announced alongside confirmation that Ian Tyler will take up the full-time chairman role at BP, having served in an interim capacity since May.
Tyler previously served as chief executive of construction giant Balfour Beatty (BBY.L) for eight years, having first joined the company as a finance director before ascending to the top role in 2005.
He is currently chairman of Grafton Group and serves as a senior independent director of mining firm Anglo American, bringing extensive boardroom experience to his new permanent role.
Dame Amanda, who also serves as chief executive of Aviva (AV.L), played a central role in both recruiting former chairman Albert Manifold and overseeing his dismissal after just eight months in the position.
Manifold was unexpectedly removed in May amid accusations of bullying, which he has vehemently denied, with one US shareholder describing his removal at the time as a “board stitch-up.”
The Telegraph had previously reported that Manifold was drawing up plans to remove Dame Amanda before he was himself ousted from the position.
Tyler confirmed he had asked Dame Amanda to remain on the board but ultimately respected her decision to leave following the conclusion of the chair search process.
“While I had asked Amanda to stay, she believes that after four years and having just completed the management of the chair search process, now is an appropriate time to plan her departure from the board and I respect that decision,” Tyler said.
Dame Amanda said she would “leave knowing that BP has a strong foundation with Meg [O’Neill] and Ian now in place” and wished them and the company every success for the future.
Tyler becomes BP’s third chairman in a year, inheriting a company that has endured significant leadership turbulence stretching back to the 2023 departure of Bernard Looney over claims he misled the board about relationships with colleagues.
Murray Auchincloss, BP’s former finance chief, succeeded Looney but later came under pressure from investors including hedge fund Elliott, who pushed for greater focus on fossil fuels and improved profitability.
Auchincloss stepped down in December last year, paving the way for Meg O’Neill to become the first woman to lead BP in its 117-year history.
O’Neill joined in April from Australian oil company Woodside Energy, where she had previously served as chief executive, and has presided over a notable recovery in BP’s share price.
BP shares had fallen by up to 30 percent in the years following Looney’s departure but are now up 23.5 percent this year, reflecting renewed investor confidence under O’Neill’s leadership.
BP’s stock slipped less than one percent Wednesday morning following the announcement of Tyler’s permanent appointment, a relatively muted market reaction given the scale of recent boardroom upheaval.
Tyler stated his intention to 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.”
He also pledged to establish “regular and transparent engagement” with shareholders while continuing to support the wider leadership team as they deliver performance and value for investors.
