BP Names New CEO, Tony Hayward Gets His Life Back

robert dudley bp ceo

Robert Dudley

Buh-bye Tony Hayward. The 52-year-old, who will forever be known as the man who headed BP during the worst oil spill in history, finally got his wish. He's getting his "life back." BP is replacing him with a new CEO, American Robert Dudley.

No longer will Hayward "have to deal" with the largest environmental cleanup operation in history. He's also getting about $1 million to step down, and will be eligible for a nice pension once he turns 55.

Dudley, 54, has all kinds of oil business experience as well as another major credential going for him: He grew up in Mississippi. Some hope that he has more of a personal investment in cleaning up America's Gulf and will be better at navigating our political waters as well.


On Monday, Florida Attorney General Bill McCollum said that throughout the spill, Hayward "has appeared disingenuous, disinterested, and often dismissive of what our state, our businesses, and our residents are suffering."

Hayward will step down October 1, and is being "banished to Siberia." He'll be nominated to become one of four BP directors on the board of TNK-BP, the oil company's venture in Russia.

Commenting on his decision to step down, Hayward said:

"The Gulf of Mexico explosion was a terrible tragedy for which -- as the man in charge of BP when it happened -- I will always feel a deep responsibility, regardless of where blame is ultimately found to lie."

BP has spent $32.2 billion in the second quarter to clean up the oil spill (including the $20 billion in escrow). The company also faces huge liabilities in lawsuits from fishermen, hotel owners, and tourism businesses along the Gulf Coast.


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