Tuesday, July 27, 2010

Change of Leadership at BP Tony Hayward Out, Bob Dudley in

Bob Dudley will be the first American to hold that position.

http://www.nypost.com/p/news/international/new_boss_huge_loss_for_bp_and_taxpayers_9s6Gr0BrjBlIquOL6UoJzN

"Oil giant BP launched a plan to repair its battered image in the United States on Tuesday, ditching its gaffe-prone chief executive and promising to slim down by trebling an asset sale target to $30 billion.

However, the company, the target of public anger over its Gulf of Mexico oil spill, tempted further ire by denying it needed cultural change and offsetting the costs of the spill, including expected fines, against its taxes.

The tax move will cost the U.S. taxpayer almost $10 billion.

BP said Tony Hayward would stand down in October, to be replaced by American Bob Dudley, as it unveiled a $17 billion quarterly loss due to the costs of the biggest oil spill in U.S. history.
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