Muted market response to former CRH chief’s appointment belies reputation as ‘shrewd operator’ and ‘man on a mission’

BP named outsider Albert Manifold, the former boss of building materials producer CRH, as its new chairman on Monday, as it grapples with a major strategy reversal in an attempt to turn around a weak share performance.

BP has appointed Irishman Albert Manifold as its new chair, paving the way for Helge Lund to depart after six troubled years steering the struggling UK oil major.