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BP has a scapegoat ready and waiting

It is believed that BP chief executive Tony Hayward is on the verge of leaving the group amid signs that BP is looking for a scapegoat for the disastrous oil spill in the Gulf of Mexico. It is almost inevitable that the company will look to draw a line under this situation as soon as possible and Tony Hayward is most definitely in the frame to take the lion's share of the blame as he readies himself to leave the group.

While there has been no official confirmation that any change in management is in the pipeline, noises have been made to the investment arena, and the political arena, that Tony Hayward will fall on his sword at some stage. He is likely to receive a significant payoff for his time at the group and will no doubt move on with a significant pension fund also secured.

The truth is that chief executives around the world live and die by their decisions and the performance of their companies, even though many situations are out of their control. However, the situation regarding BP is slightly different in that the US government is adamant that somebody needs to pay the price for the disastrous oil spill in the Gulf of Mexico with Tony Hayward, and potentially his company chairman, most definitely in the frame.

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