Reports Say BP CEO Planning Exit
Posted July 25, 2010 1:27 pm.
This article is more than 5 years old.
Reports are swirling that BP’s embattled CEO Tony Hayward is on the verge of leaving the company.
A senior U.S official was briefed on the decision by a senior BP official late last week.
The BBC reports Hayward is in the process of negotiating the terms of his exit, with a formal announcement to come within the next 24 hours.
Britain’s Sunday Telegraph reports negotiations over his severance package were held over the weekend, and the BP’s board will be meeting Monday to discuss the timing of Hayward’s exit.
Hayward has come under heavy fire, being attacked for his handling of the oil spill in the Gulf of Mexico that killed 11 workers and has been characterized as the worst environmental catastrophe in U.S history.
U.S president Barack Obama has previously said if he was Hayward’s boss, he would’ve fired the exec. Hayward was also attacked after he said he wanted the spill to be over so he could “get his life back.”
The BBC reports Hayward will likely be replaced by his U.S colleague Bob Dudley, who is in charge of the clean-up operation.
Meanwhile, the temporary cap remains in place, despite the detection of a new leak.
