BP’s Hayward Quits After Spill Shreds Pledge to Improve Safety
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Tony Hayward’s resignation became inevitable after the worst oil spill in U.S. history jeopardized BP Plc’s independence and wiped 45 billion pounds ($70 billion) off the company’s value.
A geologist who joined BP in 1982, Hayward will be replaced as chief executive officer by U.S.-born Robert Dudley, the company said today. Dudley, the former head of BP’s Russian unit and in charge of the Gulf of Mexico cleanup, will take the helm on Oct. 1.