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Tony Hayward to become scapegoat for BP

Tony Hayward, the current chief executive of BP, is expected to step down from his position with the group in early October with many seeing him as a potential scapegoat for the oil disaster in the Gulf of Mexico. It is believed that the announcement with regards to his future will be postponed until the oil leak has been plugged once and for all and the company will then be able to draw a line under this situation and hopefully move on.

There are a number of potential successors in the background although many may wait to see exactly what financial state the company is in once the cleanup bill and compensation claims have been settled. It is believed that the departure of Tony Hayward will be one of the main defences which BP will put forward if the likes of ExxonMobil or Royal Dutch Shell were ever to step forward with a potential offer for the group.

We are entering a very critical period in the history of BP and the future of the group could well hinge on action taken over the next six months. It will certainly be an eventful ride!

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