BP has removed its Chair, Albert Manifold, effective immediately. The decision, announced on Tuesday, was due to concerns over governance, oversight, and conduct. This move occurs just under eight months into Manifold’s tenure, aimed at overseeing a strategy shift.

This decision follows a period of turmoil for BP marked by scandals and leadership changes. Three years ago, former CEO Bernard Looney was dismissed for deceiving the board about personal relationships with colleagues. Following this, Murray Auchincloss, who succeeded Looney, abruptly resigned in December with no clear explanation. Subsequently, Meg O’Neill, former CEO of Woodside, was appointed as BP’s fifth CEO since 2020, tasked with steering the company back towards oil and gas and away from renewable energy—a strategy alteration introduced by Auchincloss the prior year.

In a statement, BP’s board expressed that Manifold, supported by the activist hedge fund Elliott with a 5% stake in BP, should resign as chair and director immediately. The board cited significant concerns regarding governance standards, oversight, and conduct. Senior independent director Amanda Blanc mentioned, “Albert has helped bring a welcome focus and pace to BP’s transformation. However, the board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action.” Blanc had overseen Manifold’s appointment in October.

BP and Elliott both declined further comments on the specifics of the dismissal. Following the announcement, BP shares dropped almost 10%, causing a temporary trading halt. Later, they partially recovered to a nearly 5% loss, while a European energy companies index saw less than a 1% decline.

Manifold, previously CEO at building materials producer CRH, realigned its portfolio and relocated its primary listing from Ireland to the U.S., resulting in a share price increase. BP appointed him in response to years of share underperformance compared to rivals, sparking takeover and break-up speculation.

During Manifold’s tenure, BP’s board size decreased, with departures including Simon Henry, Shell’s finance chief who had joined BP in September. During BP’s annual general meeting in April, the board failed to achieve shareholder acceptance for two resolutions. Manifold’s appointment also received less support than usual, confirmed by approximately 82% of votes, lower than the typical near-100% tally for directors.

Ian Tyler, formerly chief of British construction group Balfour Beatty and a BP board member since last year, will serve as interim chair.