CCTV.com - CNTV English - CCTV News

BP's chief executive to quit due to Gulf disaster

07-26-2010 08:17 BJT

LONDON, July 25 (Xinhua) -- BP's Chief Executive Tony Hayward has been negotiating his exit from the company, the BBC reported on Sunday.

According to the report, a formal announcement is likely within the next 24 hours.

Local newspaper Telegraph reported that after a weekend of detailed negotiations over Hayward's severance package, it now appears almost certain that he will announce his departure ahead of BP's half year results on Tuesday.

BP Chairman Carl-Henric Svanberg is now believed to agree that Hayward should go and that BP needs to announce a complete change of operational culture.

Bob Dudley, director of BP's oil spill unit, is now front-runner to succeed Hayward at the top and has enjoyed a better media profile since he took over operational control in the Gulf of Mexico, the report said.

The BBC reported while BP had been preparing for a change at the top for some time, the company was waiting until progress had been made on stemming the leak and until it was possible to quantify the financial costs of the disaster.

Hayward, who has worked for the company for 28 years, has been heavily criticized for his handling of the Gulf of Mexico oil leak.

It is expected to reveal a provision of up to 30 billion U.S. dollars for the costs of capping the well, compensation claims and fines to be paid.

 

Editor:Zhang Pengfei |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program