BP chief Tony Hayward 'negotiating exit deal'

BP chief Tony Hayward 'negotiating exit deal'

www.bbc.co.uk

BP's chief executive Tony Hayward has been negotiating the terms of his exit, with a formal announcement likely within 24 hours, the BBC has learnt.

Mr Hayward has been widely criticised over the Gulf of Mexico oil spill.

BBC business editor Robert Peston said it was likely he would be replaced by his US colleague Bob Dudley, now in charge of the clean-up operation.

(visit the link for the full news article)

I reckon he knows he is in real deep water. (pun not really intended).

He has to know that trouble is coming, and coming his way.
Why else would a rat leave a sinking ship, or oil rig for that matter?

A storm is brewing and it's not a hurricane...

"In many ways changing the chief executive is as much practical as it is symbolic; it all rests on reputation.

No, it's about letting someone escape with a crime against humanity, the planet and untold amounts of wildlife.
This is nothing more than a swap of 'managers', just as we see many managers being fired for a football teams unsucesful seasons. It's all about money and the general public are paying.

www.bbc.co.uk
(visit the link for the full news article)

He will jump ship (pun intended) with a golden life jacket on. They will then blame everything on him as per the deal. Normally he would retire in Costa Rica but since he will take the blame for ruining the beaches I think he will go to New Zel........

tony gets a 16 million severance package- there's talk about tony blair heading bp now.
ON TO THE MEDITERRANEAN!

with a millions dollars per year pension ??
possibly even more

the high level of Greed in this guy is disgusting
he must be billionaire .. he didnt really care to loose his job
now he can go boat trip everyday to forget his PR mess he did

I am so against any human making that kind of money. Its obscene that a person can run a company, then when it gets a little hot, they bail. With MILLIONS of dollars.

Its obscene that people think its ok for the suits to make greedy amounts of money. Captialism stands for greed.

Im not for communsism either, but there must be some point in the middle. I really, really hate the creatures that wear suits (as a everyday day thing, wearing suits once in awhile looks nice, everyday, makes you a greedy money stealing pig)

Via cannon?

Without a helmet?

It's a bit contradictory on the BBC news today (though it is most days!)

One minute and a newsflash appeared stating that BP had announced that Mr Hayward was still a CEO with BP and a respected part of the company.. I mean really, you couldn't make this up

Then the tickers showing BP Management changes in next 24 hrs, exit of Tony Hayward imminent.

Nomatter what the outcome - Tony Hayward is still the biggest, self egotistical and arrogant ecxuse of a man, ever to walk this earth. No doubt he'll walk away with a big FAT pay off, a new yacht, and free oil for the rest of his life. Makes me feel

It will happen. The website may have jumped the gun on his exit but its coming.

Shouldn't be a big shock here. Thats part of the reason to have a CEO. He's the designated fall guy. Make a show of getting rid of the bad apple then get on with business. Happens all the time in less newsworthy circumstances with corporations worldwide.

Yes, he will make a fortune out of it. Just like the head bankers who were jettisoned after ruining their banks made a fortune.

When you get to that level you cannot fail to make money, regardless of performance. Its business, justice and fairness has nothing to do with it.

seems to me if you want to kill lots of people and/or ruin peoples lives without being accountable then the best thing to do is to be a CEO of a large company and then do all the things to necessitate your aim. Let the company pay all the claims and then leave the company with a big fat check.



[edit on 25/7/2010 by loner007]

LOL

They should let Tony leave with anything he wants except his head!!!

[edit on 25-7-2010 by mike_trivisonno]

I found this on cnn.com.. He holds more than 535,000 shares. Which today would be worth about $327 million dollars.. He should give all that money away.. And so should the rest of them..

Here's some..

"Experts told CNN in June that Hayward will probably not get a lucrative package of bonus money and stock awards that many U.S. companies give to outgoing CEOs as so-called golden parachutes.

"He will be lucky to get a single year's salary," said Paul Hodgson, a senior researcher at The Corporate Library, a governance group. "And even that could be mitigated in certain circumstances."

His compensation package -- including salary and bonuses -- was worth 3.158 million British pounds ($4.87 million), according to the company's 2009 annual report. He's also due an annual pension of 584,000 pounds ($901,000).

Additionally, he held more than 535,000 shares in the company as of December 31, which would currently be worth about 212 millon pounds (about $327 million).


Source: edition.cnn.com...=hCnuTfJcOAk





[edit on 26-7-2010 by skekke]