BP boss Hayward 'to be replaced'

Speculation is mounting over future of BP boss Tony Hayward
12 April 2012

Embattled BP chief executive Tony Hayward will be replaced, with a formal announcement expected over the next 24 hours, it emerged.

A US government official briefed by senior BP figures told the Associated Press that a change of leadership at the firm was under way.

It comes ahead of a meeting of the oil giant's board of directors on Monday and the release of interim results on Tuesday.

Monday's meeting, understood to be taking place at BP's headquarters in London at around midday, could be followed by a formal statement outlining the chief executive's exit plan.

The senior US official, who spoke to Associated Press on condition of anonymity, said he was briefed on the decision late last week.

Over the weekend, Mr Hayward was reportedly in talks with the BP board over a compensation deal.

A spokesman for BP maintained that the chief executive continued to have the "full support of the board and senior management" and that the company would not comment on "speculation".

But it is now widely expected that Mr Hayward - the man who has soaked much of the criticism over the Deepwater Horizon oil spill - will step down in the coming days.

Bob Dudley, currently BP managing director, is tipped to be his successor. BP were quick to stress Mr Dudley's links to the American south when he took over day-to-day running of the clean-up operation.

The potential elevation of an American to the post of chief executive could take some of the venom out of attacks from US politicians over BP's handling of the disaster.

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