Report: BP CEO Tony Hayward on His Way Out
Note: He is “negotiating the terms of his exit… “
Which means he’ll get his before any of the people in the Gulf have seen any relief whatsoever from the economic and life damage wrought by his company’s decisions.
If the guys at the top with overall responsibility don’t suffer a penalty, is it quite fair that the “little people” (as characterized by another BP spokesperson) should be penalized by BP’s continued refusal to pay up on their claims?
See the whole sad history of BP’s claims payment fail, right here.
The controversial head of BP, who became the public face of the oil giant’s response to the Gulf of Mexico oil spill, is reportedly set to leave the company.
The BBC is reporting today that Tony Hayward is negotiating the terms of his exit from the company.
Hayward has been with BP for 28 years, and has been its chief executive since May 2007.
The BBC reports an official announcement is expected within the next 24 hours, which would come just prior to the release of the company’s second quarter financial results on Tuesday.
Special Section: Disaster in the Gulf
Last week the company said its containment and cleanup costs to date have totaled approximately $3.95 billion. The company has also agreed to create a $20 billion fund to pay out claims arising from the disaster, which has decimated the Gulf Coast.
Last month a spokesman for the oil company told CBS News that rumors of Hayward’s resignation were false.