Tony Hayward, the BP chief executive is set to step down from his position in the next ten weeks according to a report yesterday, at the same time that BP announced that it will sell £4.6 billion of its gas assets in order to pay for the cleanup of the Gulf of Mexico.
Hayward was criticized for the way he dealt with the oil spill including his callous statement of ‘I want my life back.’ It seems that soon he will have his wish granted as there is expectation that the 53 year old will leave come August or the beginning of September.
It is expected that Hayward will leave the company before October 1st if the well is sealed and may be announced at the same time as a new management strategy from Future BP group.
An insider to the organization stated that his exit will serve as protection against an attempted buyout by Royal Dutch Shell or ExxonMobil.
It has been rumoured that Robert Dudley who is in charge of the BP Gulf Coast Restoration Organization will be his successor. On the other hand, a spokesperson for BP stated that Hayward still has the support of the board and will remain in his position.
The company did enjoy a raise in shares of 3% rising to 10.55p after news of Hayward’s possible disposal and the disposals of the oil giant. The Gulf of Mexico is still discharging 70,000 barrels of oil per day and is on the top of the agenda at the White House.