UBS focuses on the new appointment of BP's CEO: Former CEO of CRH Cement takes the helm across industries. Will his capital allocation abilities revive the oil and gas giant?

Sina Finance app learned that in a report released by UBS on July 21, 2025, British Petroleum (BP.US) has appointed Albert Manifold, CEO of building materials company CRH Cement (CRH.US), as the new chairman. He will succeed Helge Lund on October 1. Manifold has no experience in the energy industry but has worked at CRH for 27 years, excelling in operational delivery and capital allocation. During his tenure as CEO from 2014 to 2024, total shareholder return reached 342%. UBS has rated British Petroleum as neutral.