BP CEO Tony Hayward To Be Replaced by Robert Dudley After Gulf Oil Spill Fiasco
Posted on 02. Aug, 2010 by David Imara in Business
In what is not considered a surprising move, British Petroleum CEO Tony Hayward will step down from his position and be replaced by Robert Dudley.
The move was announced last week, but the criticism of Hayward began months ago when the BP oil rigs burst, polluting the southern coast and Gulf of Mexico. Many economists and executives within BP are not happy with the way Hayward has handled the situation, as he has gone on the record several times to state “I want my life back.”
Dudley has been on the board for BP and has facilitated most of the clean up procedures. He originally joined the company in 1998 after the merger with Amoco.
Hayward will remain on the Board for BP until November 30. Given the criticism he has received after the Gulf of Mexico oil spill, many do not believe that investor confidence, specifically regarding BP stock, in the company will return until Tony Hayward is no longer involved. President Obama has even gone on the record to state that his actions have not been professional and that he should be fired for not assuming responsibility.
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