Fourteen months ago Tony Hayward resigned as the CEO of BP following the giant oil spill and a public relations nightmare made worse by comments like “I’d like my life back.” This was ostensibly the low point of his career — even if Hayward received an exit package of up to $24 million.
Since then things have gotten better and better.
An investment vehicle created this year by Hayward and three partners, Vallares, just agreed to a merger with Genel Energy International of Turkey to exploit the oil fields of Iraq’s Kurdistan. This deal included a $22 million payout for Hayward, who will also be the CEO of the new company, according to the Guardian.
Hayward said the deal would allow Vallares to exploit “one of the last great frontiers in the oil and gas industry. Arguably, it is the last big onshore ‘easy’ oil province available for exploration by private companies anywhere in the world.”
Business Insider Emails & Alerts
Site highlights each day to your inbox.