Monday, October 4, 2010

BP (NYSE:BP) Role Over for Thad Allen

Former U.S. Coast Guard Admiral Thad Allen and government point man Thad Allen has stepped down from his role of overseeing the operations to kill the leaking BP (NYSE:BP) Macondo oil well in the Gulf of Mexico.

That reaffirms that one stage of the process is over and a new one already begun. Now the claims and legal process is taking center stage, as BP continues to divest of assets to raise the necessary capital to pay for its liabilities.

Taking over as the new National Incident Commander is Rear Admiral Paul Zukunft, who is overseeing the remaining cleanup efforts.

Today Allen joins the RAND Corp. as a senior fellow. The accident on April 20 delayed Allen joining the research organization prior to this, as he was called on to manage the disaster, watching over BP and its actions.

It has been about two weeks since the formerly leaking oil well was officially declared dead.

No comments:

Post a Comment