- CNTV English - CCTV News

BP CEO expected to step down

07-27-2010 13:44 BJT

Watch Video

Play Video

BP's chief executive Tony Hayward is set to step down as head of the British-based oil giant, following criticism of his handling of the oil spill in the Gulf of Mexico. BP is expected to announce his departure later today.

BP's board met late Monday in London to decide its CEO's fate. A source says Tony Hayward, who became the face of BP's flailing efforts to contain the massive Gulf oil spill, will step down in October. Hayward is expected to be replaced by Bob Dudley, an American currently in charge of the clean-up operation in the Gulf. The outgoing CEO will be offered a job with TNK-BP, the company's joint venture in Russia. It's not yet clear what Hayward's role will be with the company.

Hayward has been under pressure to step down over what is seen as his lack of compassion, for the oil workers and residents harmed by the spill. He told reporters he wanted his life back, as Gulf residents struggled to cope with the spill.

Jane Coffey, Royal London Asset Management said "He is the CEO, and as CEO he is responsible for the company. And therefore he is going to have to carry the can, he is ultimately the one in charge."

Despite the likely change in company leadership, BP has announced earnings for the second quarter. And the business secretary was optimistic about the company's future.

Vince Cable, British Business Secretary said "It's stood up to this pounding. It's a very strong company, it's a very good cash flow. Now that the technical problems are beginning to be addressed, I'm sure it will come through this in one piece."

Efforts to permanently plug the ruptured well are under way, after a tropical storm last week forced BP to temporarily suspend operations.

Editor:Xiong Qu |Source: CNTV.CN

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