BP chief Hayward to quit

Robert Dudley, who was appointed last month to handle the Gulf of Mexico situation, is considered the front-runner for Hayward's job.

By

Agence France-Presse

Wed, Jul 21 2010 at 6:42 AM

Related Topics:

Offshore Drilling, Gulf Oil Spill, Tony Hayward, Oil & Gas

RESIGNATION: The Times said Hayward would resign before Oct. 1, assuming the ruptured well had been permanently sealed by then. (Photo: ZUMA Press)

BP chief executive Tony Hayward is to step down within 10 weeks in a bid to help the British-based oil firm recover from the Gulf of Mexico spill, The Times newspaper said, citing sources close to BP.

The paper said the 53-year-old would resign before Oct. 1, assuming the ruptured Macondo well had been permanently sealed by then.

Its sources said there was a growing expectation that Hayward would announce his departure in late August or September.

The Times quoted one insider as saying: "People may not blame this situation on Tony Hayward, but you would be hard-pushed to find anyone within the company who does not think he is irreparably damaged — both by his own performance and the event itself."

American oil executive Robert Dudley, who was appointed last month to handle the Gulf of Mexico situation, is considered the front-runner for Hayward's job, The Times said.

A BP spokeswoman told AFP: "Mr. Hayward remains in place and has the support of the management and the board."