BP CEO Hayward to step down: report

His likely successor is Bob Dudley

BP CEO Tony Hayward will likely step down in October, an anonymous source has said in advance of a Monday meeting that will decide Hayward’s fate. Hayward became the face of BP’s woes following its failure to contain the massive oil spill in the Gulf of Mexico. The report said that he’ll take up a job with BP’s joint venture in Russia, TNK-BP. The BBC, quoting a BP official, reported that Hayward would be offered a non-executive position on the board of TNK-BP. Hayward’s likely departure is welcome news in the U.S., where the the overwhelming sentiment toward him is “good riddance.” His most-probable replacement, Bob Dudley, has been praised as “calm, cool and collected” by Kenneth Feinberg, the claims administrator appointed by the White House to oversee compensation from the oil spill.



Looking for more?

Get the Best of Maclean's sent straight to your inbox. Sign up for news, commentary and analysis.