BP claims 'no final decision made' on Hayward

Though it looks near certain the chief executive Tony Hayward will depart BP has effectively deferred the announcement until after a board meeting this evening.

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by Charlie Parker on Jul 26, 2010 at 07:14

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BP claims 'no final decision made' on Hayward

After a weekend of intense speculation that the chief executive of BP is to step down the firm has said that 'no final decision has been made' on his future.'

Despite the protestations it is still widely believed that Hayward, who has spent the weekend negotiating the terms of his severance package, will leave the firm. The stock exchange announcement this morning contains no endorsement of Hayward and will be read as a coded message for the fact that his departure will be finalised today.

However, it now looks unlikely this will be announced before 7am tomorrow morning. The board of BP is set to meet this evening ahead of tomorrow's results announcement. The results could show losses of as much as £25 billion driven the need to put aside a huge contingency against the cost of cleaning up the Gulf of Mexico oil spill.

The Telegraph has suggested that Hayward could agree a severance package of as much as £10 million.

BP also confirmed this morning that the vessels working at the site of the Gulf of Mexico oil spill have now returned to the site having temporarily left because of a storm.

Hayward's departure looks assured as the firm's first step to re-building its reputation in the United States.He is likely to be replaced by the firm's managing director for Asia and the Americas, Bob Dudley.

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4 comments so far. Why not have your say?

Funny, that's just what they said about the dividend a few weeks ago!

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I find it amazing that the Media in particular the American media have not been ferriting away looking at a most unlikly cause of BP problems ,that some one or other would want to GET BP like if it was a cheap price or other .I mean the American media was able to totally distroy the American Armed forces when it wanted to or if it was politacally expedient to cause it .

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The bullying manner in which this accident has been treated by America has left me feeling that they have very selective memories

Mr Hayward could not have been expected to know every answer off the cuff to this very complicated situation but I suppose a scape goat is required

BP has behaved in a manner I am proud of even given the fact that it was American companies that controlled the rig

BP are paying out billions NOW

How much has been paid out by the chemical company (American) responsible for THOUSANDS of deaths in Asia years ago?

Their President could have acted diplomatically but chose instead to take cheap shots at BRITISH PETROLEUM for political gain

Special Relationship?

Yes when it suits them only

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Jane Macoustra

Jul 26, 2010 at 23:57

The most disgraceful thing about this whole issue is that Obama stopped a consortium of other oil companies from coming to help with the clean-up and/ or plugging the leak. I am disgusted that BP has taken the blame for all of this when help was offered by other oil companies. The American President has a lot to answer to. I understand the paranoia of the Americans after 9/11 - but please...........are the oil companies who wanted to help a risk too? The USA is as much to blame for the ongoing pollution, and the American shareholders and workers outnumber those from the UK. Let's tell them to stop whinging and allow external assistance to sort out this mess, so the US people directly affected can get their businesses back up and running.

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