Robert Dudley Replaces Tony Hayward On October 1

We now know that Tony Hayward will be replaced by Robert Dudley on October 1. BP Chairman , in announcing the turnover repeated their pledge to the region when he said " . . the company's priority is to stop the Gulf leak permanently and then to clean up miles of spoiled waters and beaches and compensate people whose livelihoods have been lost because of the accident."

Hopefully, the leak will soon be capped and we can all begin to put this disaster into the annals of the biggest cleanup in history. Here's the latest from the Huffington Post.

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BP: Tony Hayward OUT, Robert Dudley IN As CEO On October 1
Harry R. Weber And Jane Wardell | 07/27/10 01:08 Pm

NEW ORLEANS — The American picked to lead oil giant BP as it struggles to restore its finances and oil spill-stained reputation pledged Tuesday that his company will remain committed to the Gulf region even after the busted well is sealed.

Robert Dudley will become BP PLC's first ever non-British chief executive, the company said as it reported a record quarterly $17 billion loss and set aside $32.2 billion to cover costs from the spill.

Ending weeks of speculation, BP confirmed that gaffe-prone Tony Hayward will step down Oct. 1 as the London-based company seeks to reassure both the public and investors that it is learning lessons from the spill.

"There's no question we are going to learn things from this investigation of the incident," Dudley told reporters by phone from London after the announcement was made.

BP Chairman Carl-Henric Svanberg echoed that during a webcast presentation on the company's earnings, telling investors that BP will change as a result of the April 20 oil rig explosion that killed 11 workers and set off the worst offshore spill in U.S. history.

"We are taking a hard look at ourselves, what we do and how we do it," he said. "What we learn will have implications for our ways of working, our strategy and our governance."

Svanberg said the company's priority was to stop the Gulf leak permanently and then to clean up miles of spoiled waters and beaches and compensate people whose livelihoods have been lost because of the accident.

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June

Ex-Ceo of BP Tony Hayward Sent to Siberia?

Well! Getting "sent to Siberia" usually means that you're getting punished for something.

In this case, Tony Hayward may well have lost his post as CEO, but I'm sure he's still getting handsomely compensated for his new job. Hayward is being replaced as chief executive at BP by Bob Dudley

Here's the latest update on the subject from the Guardian.co.uk

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BP sends Tony Hayward to Siberia to appease US
by Terry Macalister and Andrew Clark
guardian.co.uk, Monday 26 July 2010 20.47 BST

BP is poised to stun the City tomorrow by nominating Tony Hayward to the board of its Russian business as a consolation prize for being axed as chief executive.

Following its board meeting in London, the oil group will formally announce tomorrow when it unveils second-quarter results that Hayward is standing down from the company's top job in October. It will use his departure to appease public opinion over the Gulf oil spill in the US where Hayward has been dubbed public enemy number one for his gaffe-ridden response to the crisis.

But the expected unveiling of a new job for Hayward – albeit a far less important one as a non-executive director at its Russian joint venture TNK-BP – could risk diluting the public relations impact of his exit from the top.

The surprise send-off to Siberia where BP has a share in the huge Kovykta field has an added twist because Hayward is being replaced as chief executive at BP by Bob Dudley. The softly spoken American was himself the former chief executive of TNK-BP before he was forced out of the country by the Kremlin two years ago in a dispute over control of the company.

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This all seems like an unlikely jigsaw puzzle - Tony Hayward and Bob Dudley. I'm almost anxious for the next episode. Are You?

June

Tony Hayward To Quit Oil Firm BP

BP has been putting a brave face on their troubles, but they've really been socked with some HUGE challenges. The billions of dollars already spent may still just be the tip of the iceberg. Tony Hayward has been the "face" of BP, and so he's been the butt of all the negative attention. I feel sorry for him and for whoever takes his place, It seems the road ahead is still long and dirty. This article from the Associated Press gives some more detail on his proposed departure.

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Tony Hayward To Step Down From BP, Reports Say
Associated Press Sunday, July 25, 2010; 8:07 AM

LONDON (AP) -- British media are reporting that BP chief executive Tony Hayward is negotiating the terms of his departure ahead of the oil company's results announcement later this week.

Citing unidentified sources, the BBC and Sunday Telegraph reported detailed talks regarding Hayward's future had taken place over the weekend. The BBC said a formal announcement on Hayward's exit is expected in the next 24 hours.

Asked about the reports, BP spokesman Toby Odone said Sunday that "Tony Hayward remains BP's chief executive, and he has the confidence of the board and senior management." BP's board is scheduled to meet Monday in London ahead of the company's half-year results announcement Tuesday.

Hayward has been under heavy criticism over his leadership during the Gulf of Mexico oil spill.

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What do you think they should do? I can't see that changing the CEO is going to change anything. Do you? Leave a comment.

June