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BP CEO Tony Hayward to resign, say analysts

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Sunday, July 25, 2010

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Hayward at the World Economic Forum in 2008
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BP Chief Executive Anthony Bryan "Tony" Hayward is negotiating the terms of his departure and will stand down from the company; effectively taking responsibility for the Deepwater Horizon oil spill in the Gulf of Mexico, according to journalists. The New York Times cites an anonymous source "close to the board", and the BBC's business editor makes a similar analysis. It is expected that President and CEO of the company's Gulf Coast Restoration Organization Bob Dudley, a Mississippi native, member of the Board of Directors, and most senior American executive of BP, will replace Tony Hayward as Chief Executive.

A report by the BBC World Service said a BP press release asserted that, "[Hayward] has the full confidence of the Board." The resignation, and change of leadership, at the multinational UK-based oil firm are expected to be discussed by the company's Board of Directors on Monday, and will potentially be ratified as early as Tuesday.

Hayward's position was, essentially, undercut when United States President Barack Obama said he "would have fired him."


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Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

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The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License
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