BP Reports Record Loss; Widens Asset Sale; Appoints Robert Dudley as New CEO

BP reported a net loss of $17.2 billion in the second quarter of this year after taking a charge for the Gulf of Mexico oil spill. This compares with net profit of $4.39 billion in the second quarter of 2009. The company reported a $32.2 billion pre-tax charge relating to the Gulf of Mexico spill. BP also announced today that it has appointed Robert Dudley as new CEO as of October 1, 2010 to succeed Tony Hayward, who is stepping down. Hayward will remain on the BP board until November 30, 2010 and BP plans to nominate him as a non-executive director of...

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