REPORT: BP CEO Tony Hayward Set To Resign


BP CEO Tony Hayward is preparing to resign sometime next month, according to the Times of London (annoyingly behind a paywall).

The move probably makes sense.

If BP gets the well capped soon, and it sells enough assets to ensure that it has enough cash to pull through, his work is essentially done. His reputation is dirt, and it makes sense that the company would want a totally fresh face, as it enters the next phase of its corporate existence.

On InTrade, the odds that he leaves by the end of the year are at 76%.