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Oil & Gas

BP Confirms Hayward Out, Dudley In

June 23, 2010
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The Associated Press reports BP PLC has confirmed that Bob Dudley is now in charge of efforts to clean up the damage caused by the Gulf of Mexico oil spill, replacing Chief Executive Tony Hayward, who has been heavily criticized for his handling of the incident. Dudley, who had led BP''s operations in the Americas and Asia, will head the Gulf Coast Restoration Organization, effective immediately, and report to Hayward. Hayward had been overseeing the response to the spill but had been accused of an inept response in his public pronouncements. BP said the organization will manage all aspects of the response to the Deepwater Horizon incident and the oil and gas spill in the Gulf of Mexico. That includes clean-up operations, coordinating with the U.S. government and local officials, and managing the $20 billion escrow account created to insure payment of damage claims. BP said that Dudley would be taking the lead in the United States while Hayward retreated to his chief executive role.
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