Bloombrg: BP Said Preparing to Replace Hayward With Dudley as Board Seeks Recovery

Posted by Kendall Harmon

BP Plc plans to appoint Robert Dudley to succeed Tony Hayward as chief executive officer as the board looks to recover the company’s position in the U.S., two people with knowledge of the matter said.

Dudley, the director of BP’s oil spill response unit, is ready to be announced as the company’s first American chief on July 27 and to take the helm Oct. 1, one of the people said, asking not to be identified because a final decision hasn’t yet been made. The decision was reached in discussions with board members about how best to take BP forward and rebuild its U.S. position, the person said. The BP board meets tomorrow to “rubber stamp” the plan, the second person said.

“The fact he is American should help to keep things a little more straightforward in his dealings with the U.S. administration,” Ted Harper, who helps manage $6.8 billion at Frost Investment Advisors in Houston, said today. He doesn’t hold BP stock. “Dudley’s most important task will continue to be making sure that the well is capped.”

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Filed under: * Economics, PoliticsEconomyCorporations/Corporate LifeEnergy, Natural Resources--The 2010 Gulf of Mexico Oil Spill* International News & CommentaryAmerica/U.S.A.England / UK

Posted July 25, 2010 at 7:49 pm [Printer Friendly] [Print w/ comments]
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