BP backs Amanda Blanc, the company’s senior independent director, to lead the process for finding a new chair for the second time after the chair’s sudden exit last week. The board decision follows the shock departure of Albert Manifold, who had taken on the role only briefly. Multiple reports say Blanc previously led the earlier chair appointment process that resulted in Manifold’s appointment, and the company now asks her to run the search again.
The outlets also note that some BP investors express concerns about Blanc’s continued involvement in the chair selection process. Their position is that her role as the senior independent director could limit the perceived independence of the process, particularly given that the chair she helped appoint has left shortly after taking the post.
Despite these concerns, BP proceeds with Blanc as the lead on the search. The reporting characterizes the move as the company standing by its internal approach to chair succession, even as investors question whether it should be handled differently after the unexpected change in chair.
