Tony Hayward will be stepping down as CEO, but he’s not going far. Sky News reports he will be taking over the company’s large Russian operation, TNK-BP.
BP is expected to name Bob Dudley as its new CEO. What’s interesting is that Dudley was the head of Russian operations before leaving in disgrace.
TNK-BP accounts for a quarter of BP’s production and 10% of its revenue, according to FP.
In other words, BP has just switched two of its top men. BP chairman Karl-Henric Svanberg is sticking around too. This news will be confirmed after a BP chair meeting today.
Will BP stock — which was rising on news of Hayward’s departuer — keep rising?
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