BP says Hayward to step down as chief executive

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BP said Tuesday that chief executive Tony Hayward will leave the group in October and will be replaced by Bob Dudley, who is currently in charge of the oil-spill clean-up operation.

"BP today announced that, by mutual agreement with the BP board, Tony Hayward is to step down as group chief executive with effect from October 1, 2010," it said in a statement, adding that Hayward would be nominated as a non-executive director of TNK-BP.

"He will be succeeded as of that date by fellow executive director Robert Dudley."

BP added that, under the terms of his contract, Hayward will receive one year's salary, worth the equivalent of 1.045 million pounds (1.245 million euros, 1.620 million dollars).

© 2010 AFP

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