Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Is Carla Bruni against a political comeback for Sarkozy?

Read more

DEBATE

Clone of Pakistan Protests: Democracy put the test (Part Two)

Read more

DEBATE

Pakistan Protests: Democracy put the test (Part One)

Read more

ENCORE!

The French Maestro of Soul

Read more

FOCUS

US tobacco giants want lion's share of e-cigarette business

Read more

ENCORE!

Bold and bonkers: Kate Bush is back on stage

Read more

THE INTERVIEW

Simon Serfaty, US foreign policy specialist

Read more

IN THE PAPERS

'It's a War, Stupid!'

Read more

BUSINESS DAILY

French PM calls on ECB to go further to help economy

Read more

  • UN backs inquiry of IS group’s alleged crimes in Iraq

    Read more

  • French education ministry picture sparks racist abuse

    Read more

  • Video: Ukraine’s children return to school as fighting rages on

    Read more

  • US urges Israel to reverse West Bank land seizure

    Read more

  • Americans detained in North Korea call for US help

    Read more

  • Lesotho PM calls for regional peacekeeping force after ‘coup’

    Read more

  • Ukrainian forces retreat from Luhansk airport after clashes

    Read more

  • Teddy Riner, France’s unstoppable judo champion

    Read more

  • Death toll rises in Paris apartment building blast

    Read more

  • Iraqi forces free Amerli in biggest victory over IS militants since June

    Read more

  • French police arrest hungry hedgehog hunters

    Read more

  • Tripoli under control of militias, says government

    Read more

  • Monaco’s Falcao set for Man Utd loan on transfer deadline day

    Read more

  • Spain orders custody for parents of ill British boy

    Read more

  • Anti-government protesters storm Pakistan's state TV

    Read more

  • Web doc on French self-immolation protests takes top prize

    Read more

Business

BP chief executive Hayward 'on brink of quitting'

Video by FRANCE 24

Text by News Wires

Latest update : 2010-07-26

The BBC reported on Sunday that BP's chief executive officer Tony Hayward, who came under fire for his handling of the Gulf of Mexico oil disaster, was negotiating his terms of departure ahead of a board meeting scheduled for Monday.

AFP - The chief executive of troubled British oil giant BP, Tony Hayward, was negotiating his terms of departure Sunday and is likely to quit within 24 hours, the BBC reported.

The British broadcaster said it had been told by a senior BP source that an announcement was due shortly on Hayward, whose future has been in doubt for several weeks over his handling of the Gulf of Mexico oil spill.

The BBC added that there was a "strong likelihood" that he would be replaced by Bob Dudley, who took over management of BP's response to the spill from Hayward last month.

Earlier, the Sunday Telegraph newspaper reported that Hayward was poised to resign before BP announces its half-year results on Tuesday. The BP board is expected to meet on Monday ahead of the announcement.

Reports have suggested for days that Hayward would resign at some point in the coming weeks as BP battles to recover its reputation in the wake of the massive oil spill.

The Sunday Telegraph said that there could be wrangling over Hayward's severance package, under which he is likely to be paid a minimum figure of just over one million pounds (1.5 million dollars, 1.2 million euros).

Asked about the BBC report, a BP spokesman told AFP he would not comment on speculation, but said: "Tony Hayward is our chief executive. He has the full support of the board and management."
 

Date created : 2010-07-25

  • GULF OF MEXICO

    Oil spill ships resume clean-up after tropical storm weakens

    Read more

  • BP OIL SPILL

    Oil rig emergency alarm 'intentionally disabled' before blast

    Read more

  • ENERGY

    BP sells major assets to pay for oil spill clean-up

    Read more

COMMENT(S)