BP has backed Dame Amanda Blanc to lead a search for a new chair for the second time in a year, despite pressure from investors and City figures for a fresh approach following the abrupt departure of Albert Manifold.
Multiple City figures including large investors in BP told the FT that Blanc’s ability to lead the search as a senior independent director had been undermined by Manifold’s shortlived stint as chair, and she would lack support from shareholders to make a second appointment.
But BP’s interim chair Ian Tyler said in response to questions from the FT, “at the request of the board, Amanda Blanc will lead the search process for BP’s next chair”. He added that the new search process would be “rigorous” and the appointment would reflect the board’s collective view.