BP's new CEO pledges to drive firm's recovery

Bob Dudley, the new chief executive of BP, has promised to put the embattled oil major "on the road to recovery".

Dudley says he is not underestimating the difficult task ahead, but believes the firm is "financially robust" with an "enviable" portfolio of assets. "I believe this combination - allied to clear, strategic direction - will put BP on the road to recovery," he says. Dudley takes over the post in October when current 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, but emphasised BP's need for new leadership. "The tragedy of the Macondo well explosion an...