Monday, July 26, 2010

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

June

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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