BP CEO to Step Down Following Oil Spill Crisis

BP is expected to announce within the next 24 hours that Tony Hayward, CEO will be stepping down and will be replaced by Robert Dudley, the director of BP's oil spill response unit. This follows media speculation that Hayward is negotiating a severance package. A spokesman for BP declined to comment but in a statement issued earlier today it said that it "notes the press speculation over the weekend regarding potential changes to management and the charge for the costs of the Gulf of Mexico oil spill." A BP board meeting is being held this evening...

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