As Hayward is banished to Siberia who is running BP?

clock

Embattled oil giant BP has sentenced CEO Tony Hayward to Siberia for his part in the mis-handling of the Gulf of Mexico spill.

His replacement will be current managing director, Bob Dudley, with Hayward sidelined to work on a joint venture between BP and Russia, based in Siberia. Currently in charge of the day-to-day running of the response to the oil spill, Dudley now faces the hefty challenge of rebuilding and restoring confidence in the group. He starts with BP at rock bottom after reporting a $17bn (£11bn) loss over the second quarter - one of the largest corporate losses in history. However, if anyone can turn the company around it is Dudley. The 54-year-old joined the board of BP 18 months ago, and a...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Investors caution Reeves' ISA reforms 'would need to strike a careful balance' to solve UK investment crisis

Investors caution Reeves' ISA reforms 'would need to strike a careful balance' to solve UK investment crisis

‘A significant shift’ but not unprecedented

Sorin Dojan
clock 21 February 2025 • 2 min read
Advisers urged to encourage philanthropy as UK's wealthiest donate £8bn

Advisers urged to encourage philanthropy as UK's wealthiest donate £8bn

CAF report highlights untapped philanthropic potential among high-net-worth clients

Sahar Nazir
clock 21 February 2025 • 2 min read
Feel Good Friday: MKC Invest 'do things differently' with GAIN partnership

Feel Good Friday: MKC Invest 'do things differently' with GAIN partnership

The DFM partnered with GAIN last year

Professional Adviser
clock 21 February 2025 • 1 min read