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Tony Hayward Replaced By Robert Dudley

BP accepts affirmed that current chief executive officer Tony Hayward will comprise put back by Robert Dudley. That comes along with the news that BP accepted a record every quarter loss of $seventeen billion, deserved primarily to its $32.2 billion pre-tax charge for covering the prices of the Gulf Oil Spill.
BP’s $17 billion loss in the 2nd quarter comparabilities on a $forty-four billion benefit in the equal flow last year.
Robert Dudley will convert BP’s first non-British chief executive at the commencement of October. Dudley, 54, acquired up in Mississippi and has been in charge of BP’s response to the spill for the past month.
Dudley stated on Tuesday that he “didn’t underestimation the nature of the task ahead, just the accompany is financially robust, with an desirable portfolio of assets and professional person teams that are among the better in the industriousness. I consider these combining — confederate to absolved, strategical centering — will put BP on the road to retrieval.”
Tony Hayward’s parting earnings:
Tony Hayward is headed to TNK-BP the company’s joint venture in Russian Federation. He will receive a year’s earnings of $1.6 million as part of the deal for vacating his position.
Hayward will continue on the board till November thirty. He will as well be entitled to draw an one-year pension of 600,000 pounds (close to $930,000 USD) from a pension pot valued at around eleven million pounds (close to $17,000,000 USD).

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