BP Names Former CRH CEO Albert Manifold as New Chairman Amid Strategy Shift

BP has appointed Albert Manifold as its new chairman, replacing Susan Kilsby. Manifold, a former CEO of CRH, will lead the company's turnaround efforts. Stifel has cut its rating on Weir Group, while BofA has raised its rating on Pennon. Assura has reported a profit, and Ryanair's profit has doubled. Citi has resumed coverage of Aviva with a "neutral" rating. Rio Tinto has named a new CEO, and Experian has backed its outlook. DA Davidson has downgraded CRH to "neutral" from "buy" and adjusted its price target to $105 from $120. UBS has raised its target price for CRH.

BP PLC (LON:BP) (NYSE:BP) has appointed Albert Manifold as its new chairman, succeeding Susan Kilsby [1]. Manifold, who previously served as CEO of building materials group CRH (NYSE:CRH), will oversee the company's turnaround efforts as it shifts its focus back toward oil and gas under investor pressure. The appointment follows a broader pivot in BP’s direction, scaling back its green ambitions—a strategy previously championed by outgoing chairman Helge Lund [1].

Stifel downgraded Weir Group Plc. (LON:WEIR) (OTC:WEGRY) from "Buy" to "Hold" due to valuation concerns [2]. The engineering firm's shares have climbed approximately 35% since early April, pushing its FY25E price-to-earnings ratio to approximately 21x. Despite strong fundamentals, including a healthy current ratio of 2.32 and moderate debt levels, Stifel expects significant sales growth acceleration in the second half to meet full-year estimates.

BofA Securities raised its rating on Pennon Group Plc. (LON:PEN) from "Neutral" to "Buy," citing strong operational performance and cost savings [3]. Assura Plc. (LON:ASSA) reported a profit of £1.1 million for the first half of 2025, an increase of 25% compared to the previous year [4].

Ryanair Holdings Plc. (LON:RY4) reported a profit of €1.2 billion for the first half of 2025, a 100% increase compared to the same period last year, driven by strong passenger demand and operational efficiency [5].

Citi has resumed coverage of Aviva plc. (LON:AV.) with a "neutral" rating, citing ongoing regulatory scrutiny and competitive pressures [6]. Rio Tinto Ltd. (LON:RIO) appointed Simon Thompson as its new CEO, succeeding Jean-Sebastien Jacques [7].

Experian Plc. (LON:EXPN) maintained its outlook for the year, citing strong demand for credit information services and a robust pipeline of new products [8]. DA Davidson downgraded CRH Plc. (LON:CRH) from "Buy" to "Neutral," adjusting its price target to $105 from $120 [9]. UBS raised its target price for CRH to $110, citing improved operational performance and cost-saving initiatives [10].

References:

[1] https://finance.yahoo.com/news/bp-names-former-crh-chief-074814033.html
[2] https://www.investing.com/news/analyst-ratings/stifel-downgrades-weir-group-stock-rating-to-hold-on-valuation-concerns-93CH-4143348
[3] https://uk.investing.com/news/analyst-ratings/stifel-reiterates-buy-rating-on-rhythm-pharmaceuticals-stock-after-positive-trial-data-93CH-4162619
[4] https://www.marketscreener.com/quote/stock/AVIVA-PLC-4000581/news/Citi-Restarts-Aviva-Coverage-with-Neutral-Rating-50512206/
[5] https://www.marketscreener.com/quote/stock/AVIVA-PLC-4000581/news/Citi-Restarts-Aviva-Coverage-with-Neutral-Rating-50512206/
[6] https://www.marketscreener.com/quote/stock/AVIVA-PLC-4000581/news/Citi-Restarts-Aviva-Coverage-with-Neutral-Rating-50512206/
[7] https://www.marketscreener.com/quote/stock/AVIVA-PLC-4000581/news/Citi-Restarts-Aviva-Coverage-with-Neutral-Rating-50512206/
[8] https://www.marketscreener.com/quote/stock/AVIVA-PLC-4000581/news/Citi-Restarts-Aviva-Coverage-with-Neutral-Rating-50512206/
[9] https://www.marketscreener.com/quote/stock/AVIVA-PLC-4000581/news/Citi-Restarts-Aviva-Coverage-with-Neutral-Rating-50512206/
[10] https://www.marketscreener.com/quote/stock/AVIVA-PLC-4000581/news/Citi-Restarts-Aviva-Coverage-with-Neutral-Rating-50512206/