A New Chair, but No Quick Fix for BP’s Governance Woes

The appointment of Ian Tyler as the new chair of BP marks a significant moment in the company’s efforts to put its boardroom turmoil behind it. The months-long search was sparked by the contentious ousting of Albert Manifold. While Tyler brings significant experience to the role, it remains to be seen whether he can address the underlying issues plaguing BP’s governance.

Tyler’s background in leading executive teams and overseeing governance at companies like Balfour Beatty and Anglo American is undeniably impressive. His experience as a non-executive director on BP’s board since April 2025 is also relevant, although some critics have questioned whether his presence helped exacerbate the problems rather than resolve them.

The real question, however, is whether Tyler can succeed where others have failed in addressing BP’s governance concerns. The company has been plagued by issues of leadership and accountability, with multiple chief executives coming and going in a short period. Bernard Looney’s departure three years ago was particularly notable, as he admitted to failing to fully detail relationships with colleagues.

BP’s decision to shift its strategy towards fossil fuel extraction and away from renewable energy investments has been met with skepticism by some investors, who see it as a step backwards for a company that had previously committed to reducing its carbon footprint. The UK oil and gas industry is facing intense scrutiny over its role in climate change.

Ian Tyler’s statement on his appointment, promising to lead the board’s evolution and ensure regular engagement with shareholders, is a welcome development. However, it remains to be seen whether he can deliver on these promises, particularly in light of the criticism he has faced over BP’s governance problems.

The Legacy of Amanda Blanc

Amanda Blanc, who led the search for a new chair and will stand down next year, has been under fire for her role in Manifold’s appointment. Her praise of his “relentless focus on performance” at the time was seen as tone-deaf given the subsequent controversy surrounding his tenure. However, it is also worth noting that Blanc had previously led a rigorous search process to appoint Manifold.

Blanc’s departure raises questions about accountability within BP’s leadership. The fact that Tyler has asked her to stay, but she believes it is an appropriate time for her to leave, suggests that there may be some uncertainty about the future of BP’s governance. This is particularly concerning given the company’s history of instability at the top.

A New Chapter?

Ian Tyler’s appointment marks a new chapter in BP’s efforts to reform its governance practices. However, it would be premature to assume that this is the solution to all the company’s problems. The fact remains that BP has been under pressure from investors like Elliott Investment Management to improve its performance, and the company still faces significant challenges in terms of its climate reporting and accountability.

Many investors will be watching closely to see whether Tyler can fix BP’s broken governance. Mark van Baal, chief executive of Follow This, pointed out that “the next few months will be crucial in determining whether Tyler is up to the task.”

What’s Next for BP?

In the coming weeks and months, BP will outline its plans for reforming its governance practices under Ian Tyler’s leadership. This will include efforts to address concerns around accountability, climate reporting, and transparency. However, it remains to be seen whether these efforts will be enough to win over critics like Follow This.

As the UK oil and gas industry continues to navigate a rapidly changing landscape, BP is facing intense scrutiny over its role in shaping that future. Ian Tyler’s appointment marks an important moment in this journey, but it is just one step on the road to reforming BP’s governance practices.

In the end, whether or not Ian Tyler succeeds in addressing BP’s governance woes will depend on his ability to deliver on promises made and to win over critics who have lost faith in the company. With a new chair comes a fresh start, but it also brings with it significant pressure to perform.