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BP shares flat as group posts record £11bn loss
... future payments when it issues its fourth quarter results in February 2011. Meanwhile, the group confirmed Tony Hayward is to step down as chief executive in October, to be replaced by Bob Dudley, the man in charge of the cleanup operation. Hayward will become non executive director of BP's Russian joint venture, TNK-BP, which has operations in Siberia ...
An American hero
His replacement will be current managing director, Bob Dudley, with Hayward sidelined to work on a joint venture between BP and Russia, based in Siberia. Currently in charge ... holds an MBA from Southern Methodist University. ... Embattled oil giant BP has sentenced CEO Tony Hayward to Siberia for his part in the mis-handling of the Gulf ...
Managers stick with BP despite £11bn loss
The group reported the loss this morning and also confirmed Tony Hayward will step down as chief executive in October. He will be replaced by Bob Dudley, who is currently in charge of the Gulf of Mexico oil spill cleanup operation. However, fund managers say BP has already started to take positive steps to get the business back on track after the disaster ...
BP’s new CEO pledges to drive firm's recovery
... CEO Tony Hayward moves to work on TNK-BP, the firm's Russian joint venture. BP chairman Carl-Henric Svanberg, the company chairman, says he is "deeply saddened" to lose Hayward ... embark on its next phase under new leadership," he says. Under the terms of Hayward's contract, he will receive a payout of £1.045m, equivalent to one year's salary and a £600 ...
Hayward set to resign as BP chief
... day-to-day management of the spill response from Hayward last month, is the likely successor. BP hopes Hayward's exit will help the company rebuild its tarnished reputation ... decisions will be announced as appropriate," it says. ... Embattled BP chief executive Tony Hayward is expected to resign tomorrow as the oil giant attempts to rebound ...
Morning Markets: FTSE buoyed by BP and Tullow Oil
Investors also responded positively to results of European stress testing which saw all the major banks pass. BP rose 2.68% to 409.3p on news embattled BP chief executive Tony Hayward is expected to resign tomorrow. Elsewhere in the resources sector, Tullow Oil says it has found a new oil field, causing its shares to jump 5.43% to £12.43. However ...
Investec Energy duo use BP strife to add unloved Gulf stocks
Waghorn and Lacey, the former heads of the highly-regarded Goldman Sachs energy research team, built a small position in Transocean, owner of the sunken Deepwater Horizon rig ... distributions. "We do have some sympathy for BP. The sad fact is, it seems the market thinks Tony Hayward will not be able to get through this, even though there is not much ...
Obama gives green light to Exxon for BP bid
With the market value of BP falling from about £120bn to about £70bn due to the Gulf of Mexico disaster, potential bidders are likely to be keen on taking advantage of the oil ... look" at BP. A merger would create a group with a stock market value of £265bn. Tony Hayward, the BP chief executive, has moved to block the threat of a hostile bid by meeting ...
Ashby: Why it is better to be a footballer than a CEO
As both Tony Hayward and John Varley have found to their personal cost in recent weeks, being a CEO of a UK plc with extensive operations in the US can be very stressful ... earns a relatively paltry £1m a year. This is exactly the same annual salary as Tony Hayward. No wonder so many kids want to play football for a living… Graham Ashby is head ...
BP denies Hayward exit rumour.
... deputy Prime Minister Igor Sechin said BP chief Hayward - who he meets today - will step down and name his successor. Hayward is expected to discuss BP's operations in Russia ... Friday, its share price hit a 14 year low, dropping below 300p. ... BP has denied reports from Russia that Tony Hayward is set to stand down. ... Will Roberts ... Oil
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