Qualified advisers answering your
Financial Questions
call 0800 092 1245

BP boss set to leave company

Tony Hayward, the chief executive of BP, is rumoured to be on the verge of leaving the group with an announcement expected with tomorrow's second-quarter figures. It is believed that the board of directors are currently in negotiations regarding a multimillion pound severance package which they hope will draw a line under the BP crisis in the Gulf of Mexico and allow the group to move forward. It is believed that the company will report a $13 billion loss for the second quarter with a potential $25 billion provision made for the cost of cleaning up the oil spill.

There is no doubt that management changes are on the verge of happening at BP although there had been speculation regarding position of the company's chairman. It will be interesting to see the size of the severance package afford to Tony Hayward who has been under massive pressure for the last few weeks. Whether or not it is fair that the chief executive literally carries the can for the rest of the group is debatable but this is the world of high finance and high-profile business.

Despite hopes that BP would be suspended from deepwater drilling it seems other group is on the verge of beginning such activities off the coast of Libya.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details