Quoting sources close to BP, the Times reported that his exit is expected before 1 October if the ruptured well is sealed and his exit could be announced alongside a new strategy being hammered out for the group called Future BP. An insider said Hayward’s departure formed part of the group’s defence against any attempted buyout by ExxonMobil or Royal Dutch Shell.
Chief executive expected to leave before 1 October
BP plans to sell $7bn of assets for clean-up fund
Fears oil still leaking despite containment cap
Oil spill discussed by Barack Obama and David Cameron
Dan Milmo: Wednesday 21 July 2010 08.23 BST
BP chief executive Tony Hayward is set to step down by 1 October, the Times reports. Photograph: Suzanne Plunkett/Reuters
BP chief executive Tony Hayward is preparing to step down within the next 10 weeks, according to a report this morning, as the embattled oil giant announced plans to sell $7bn (£4.6bn) of gas assets for its Gulf of Mexico clean-up fund.
Hayward was heavily criticised for his reaction to the Deepwater Horizon disaster including the statement, “I want my life back”, that led to accusations of insensitivity. The beleaguered chief executive may get his wish soon, amid a growing expectation that the 53 year-old will announce his departure in late August or September. read more
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