Friday, June 18, 2010

BP (NYSE:BP) Replaces CEO in Cleanup Responsibilities

BP Chairman Carl-Henric Svanberg told Britain's Sky News today that he'll be replacing BP (NYSE:BP) CEO Tony Hayward in regard to the cleanup effort in the Gulf of Mexico, although Hayward will retain his CEO position at the oil giant.

U.S. citizen and BP managing director Robert Dudley will now head up the cleanup effort on behalf of BP, but will still report directly to Hayward.

Svanberg didn't say too much about the reasoning behind his decision, other than the fact "It is clear Tony has made remarks that have upset people."

Some of this is cultural differences, Hayward being what appears to be an introvert, and the anger of some Americans over what has been described by Obama and Democrats as British Petroleum, possibly on purpose, in order to take attention away from some of the American companies involvement in the matter. At least that's the perception of a number of British people.

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