Oil giant BP has removed its chairman Albert Manifold over "serious concerns" related to "important governance standards, oversight, and conduct".

Senior independent director Amanda Blanc said the board had been "surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action".

Manifold had been in the position less than a year. Shares slumped 4% following the news of his removal.

Ian Tyler has been appointed interim chair with immediate effect.

Manifold joined BP in September 2025 as a non-executive director and was appointed chair the following month.

At the time of his appointment, BP said Manifold had "a strong track record of strategic leadership and operational delivery".

His removal comes after BP reported a doubling in profit following a surge in oil prices since the beginning of the Iran war.

In its first results since the conflict broke out, the energy giant reported profits of $3.2bn (ยฃ2.4bn) between January and March after an "exceptional" performance in its oil trading business.

The change reflects increasing supply concerns over certain fuels due to the effective blockade of the Strait of Hormuz.

Motoring group RAC warns pump prices could keep rising if there is no resolution to the Iran war.

Jason Thomas, 50, fell through a displaced grating on the Valaris 121 in 2023.

The energy giant's profits jump by nearly a quarter as it benefits from the recent volatility in the oil price

The levy was introduced in 2022 after soaring energy company profits and is due to run until 2030.