BP has announced Albert Manifold, former chief executive of Irish-based building materials group CRH, as its new chair.

Manifold will join the BP board as non-executive director and chair-elect on September 1 before taking over as chair a month later on October 1.

He will succeed Helge Lund, who will step down as chair and as a director of the BP on the same day.

Manifold led CRH from January 2014 to December 2024, during which time the company reshaped its portfolio to drive improved growth and performance and also moved its primary listing to the New York Stock Exchange.

BP said Manifold has a a strong track record of strategic leadership and operational delivery with a focus on cost efficiency, disciplined capital allocation and cash flow generation.

Manifold is also a non-executive director at LyondellBasell, the global chemicals producer, and at Mercury Engineering, a leading engineering consultancy.

"It is an honour to be appointed chair of one of the world's great energy companies, and to have the opportunity to help the company reach its full potential. BP has a vital role to play in addressing the world's growing energy needs," said Manifold.

"I look forward to working with the BP board, Murray [Auchincloss, BP chief executive] and the leadership team to accelerate delivery of bp's strategy and drive compelling and sustainable shareholder value creation."

Manifold is a Certified Public Accountant, a Chartered Accountant, and holds a Master of Business Administration and a Master in Business Studies, both from DCU.

He remains a special adviser to the board of CRH and is also an adviser at Clayton Dubilier & Rice.

"I am delighted that following a rigorous and comprehensive global search we have been able to appoint Albert as our new chair. His impressive track record of shareholder value creation at CRH demonstrates he is the ideal candidate to oversee bp's next chapter," said Dame Amanda Blanc, senior independent director at BP.

"Albert has a relentless focus on performance which is well suited to bp's needs now and into the future. He transformed and refocused CRH into a global leader by building on its rich heritage to deliver superior growth, cash generation and returns.

"On behalf of the company, I would also like to thank Helge for his leadership and dedicated service to bp throughout the past seven years. His contribution through a period of immense change has been invaluable." 

Photo: Albert Manifold. (Pic: Sam Boal/RollingNews.ie)