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Friday 29th of May 2015

BP chief exec future in doubt

Story link: BP chief exec future in doubt by Kay Murchie
BP chief exec future in doubt

There is further speculation that oil giant BP is considering board changes, which could see the departure of chief executive, Tony Hayward.

According to the BBC, he is likely to be replaced by his US colleague Bob Dudley, who is overseeing the clean-up operation.

Last week, The Times reported that Mr Hayward would be stepping down but following the media release, a spokesperson for the company said: “He [Tony Hayward] has full support from the board and will remain in place.”

Fifty-three-year-old Hayward has faced severe criticism for the way he has handled the major oil leak and made an insensitive comment in May after saying “I want my life back”.

His comments came after the explosion on the BP oil rig on 20 April took the lives of 11 people. The explosion led to thousands of barrels of oil leaking from the damaged well.

Just a few weeks after, Mr Hayward faced fresh criticism for attending a yachting event on the Isle of Wight.

He took time out from the ongoing Gulf of Mexico oil leak to go sailing with his son at the JP Morgan Asset Management Round The Island Race last month.

As a result, Mr Hayward, who has been with the company for 28 years, has come under increasing pressure to resign.

Meanwhile, the company is due to report its second-quarter results on Tuesday. It is expected to report a significant quarterly loss due to the costs related to the Gulf of Mexico disaster.


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