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Albert Manifold to succeed Helge Lund as BP chairman in

October

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Lund re-elected with reduced support in April

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Appointment comes as BP navigates major strategy shift

(Adds details on Manifold, BP comment in paragraph 4, shares in

paragraph 5)

July 21 (Reuters) - BP named Albert Manifold, the

former boss of building materials producer CRH, as its

new chairman on Monday, as it looks to address investor concerns

about its strategy and weak share performance.

Manifold, who has not previously held a senior position in

the energy sector, will succeed Helge Lund from October as BP

navigates a major strategy revamp under persistent takeover and

break-up speculation. During his tenure at CRH, its shares

soared nearly fivefold.

"(Manifold's) impressive track record of shareholder value

creation at CRH demonstrates he is the ideal candidate to

oversee BP's next chapter," said Amanda Blanc, BP's senior

independent director, who led the succession process on behalf

of the board.

Under his 11-year stint as CEO of CRH, the Irish company

reshaped its portfolio by buying and selling assets and moved

its primary listing to New York in 2023.

BP's shares rose 0.5% to 402.05 pence in early London

trading.

Norwegian national Lund, 62, who has been BP's chair since

2019, fell out of favour with investors after he backed ex-CEO

Bernard Looney's ill-fated foray into renewables.

He was re-elected in April with sharply reduced support after

coming under pressure from activist investor Elliott Management

and criticism from climate-focused shareholders.

BP said in April that Lund intends to exit the firm, "likely" in

2026.

Sam Laidlaw, the former chief executive of British Gas owner

Centrica ( CPYYF ) and Ken MacKenzie, retired chair of mining

group BHP, were also reportedly approached to succeed

Lund.