BP chief Hayward to exit with £10.8m pension

He is expected to stand down following widespread criticism of his handling of the Gulf of Mexico oil spill and will be replaced by managing director, Bob Dudley, who has taken charge of the clean-up operation. It is believed the terms of Hayward's employment entitles him to a payout of at least £1m, according to the BBC. Meanwhile, the Daily Telegraph is reporting his pension pot could be as much as £10.8m, resulting in an annual payment of about £584,000. BP this morning responded to the press speculation, saying "no final decision has been made" over potential changes to management...