BP appoints chairman to replace ousted predecessor

British oil company BP announced on Wednesday that Ian Tyler will become its permanent chairman, replacing Albert Manifold who was abruptly removed from the role earlier in the month. The decision comes after BP disclosed on May 26 that Manifold had been ousted due to "serious concerns over management, oversight and conduct." Tyler was initially appointed as interim chairman on that same day.

BP's CEO Meg O'Neill began her position a month prior to Manifold's departure, succeeding Murray Auchincloss who stepped down after just under two years in the role. The internal turmoil at BP was further exacerbated by a shareholder backlash at the company's annual meeting in April, where investors voted against a resolution to lower the firm's climate reporting standards.