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July 27th, 2010
05:47 AM ET

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Tony Hayward will step down as chief executive of BP amid outrage over the oil spill in the Gulf of Mexico, the company announced Tuesday. CNNMoney.com reports.

Tony Hayward will step down as chief executive of BP amid outrage over the oil spill in the Gulf of Mexico, the company announced Tuesday. CNNMoney.com reports.

BP ousts CEO Hayward and taps an American

(CNNMoney) – Tony Hayward will step down as chief executive of BP, the company announced Tuesday, amid ongoing outrage over the oil spill in the Gulf of Mexico.

BP said Hayward will be replaced by American Robert Dudley effective Oct. 1.

Like Hayward, Dudley is a long-time BP employee with more than 30 years in the oil business. A chemical engineer by training, Dudley was put in charge of the day-to-day leadership of the Gulf Coast clean-up operation in June.

BP said Hayward will receive a year's salary amounting to $1.6 million but further details of his severance package were not disclosed.

The company also plans to nominate him as a non-executive director of Russian oil and gas venture TNK-BP.

The announcement of the change in leadership came as BP reported a second-quarter net loss of $17.2 billion. The heavy loss was due to a $32.2 billion charge the company took related to the oil disaster.

The news ends weeks of speculation about management changes at the company responsible for what has been called the worst environmental disaster in U.S. history. It also presents an opportunity for BP to put a new public face on the company as it seeks to rebuild its reputation. Read more

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soundoff (33 Responses)
  1. Tom-Vermillion, Ohio

    Being Fired vs. Being Layed Off. Being fired means that the person has done something against a given company that warrents dismisal without benefits, this is bad for the person (obviously) and good for company in that it minimizes costs. Being layed off means that through no fault of the employee the company has no work for the person to do and the person get unemployment benefits, etc. at a significant cost to the employer. Now, suppose the employer wants to cut costs and chooses to bypass critical steps at the objection of the employee. The employee knows that he/she can get fired for insubordination. So the employee ends up doing what the boss orders him/her to do. Disaster can occure, but then again it may not. Now the CEO, clearly is negligent, is clearly incompetent, and clearly cost the company dearly at the cost of thousands of jobs and livelihoods, perhaps perminately. Can the employees as a group have the CEO or 'boss' fired without fear of being fired themselves? I think not. Tell me, what's wrong with this picture? The CEO gets the goldmine and the employee get the shaft. Now, Tony Hayward gets $18 million and reassigned. Not even fired. I cannot help but wonder how that $ 18 million is going to 'trickel down. And lastly, how much of that $ 18 million is going to end up as a compaign contribution(s). Again, what's wrong with this picture?

    July 27, 2010 at 8:55 am |
  2. mike sey

    Melon – no, but what's your point ?

    The well has been capped and is no longer spewing; $20 billion has been set aside for compensation, clean -up etc and there is probably a great deal more to come. Right now CNN's coverage of the issue seems to indicate that this really is not about an economic or environmental disaster but public relations and politics.

    July 27, 2010 at 8:53 am |
  3. Stephanie

    Julie: You are aware that it was American companies responsible for most of the oil ravaded landscape in Nogeria. I wonder why it would be bp's job to clean it up?

    July 27, 2010 at 8:48 am |
  4. Pauly

    By law, BP only had to pay up to $75 million in liability claims. A law the GOP has continued to support rather than voting to raise the cap. So getting BP to agree to the $20 billion fund was a monumental achievement.

    Dispersing large amounts of cash & screening all the claims pouring in isn't a simple process. As we learned from the 9/11 fund, there are people who see nothing wrong w/ filing bogus claims. Once money is paid out, there is little chance of recovering any that was illegally obtained.

    The tourism industry is blaming BP for all it's problems. Surely it has also been hurt by the economy & the predictions of a very active hurricane season. Many Americans just can't afford a vacation & those that can don't want their vacation cut short by a storm.

    AL, LA & MS received $15 million each & FL $25 million for tourism advertising. I haven't seen many ads plugging these places but have seen plenty from other places. BP paid for Gov Jindal's berms that are now underwater. Claims are coming in from every parish, county, town & state near the Gulf & from the fed govt. Not to mention all the individuals, boats, aircraft & heavy equipment they have hired. They have been inundated w/ hundreds of lawsuits as well. You casn criticize the process all you want but it's a good thing that it isn't as slow as workers' compensation claims in this country which can & usually do take years!!!

    July 27, 2010 at 8:44 am |
  5. Stephanie

    Melon: Why aren't you including the companies who employ these people undercutting the wages and benefits of Americans?

    July 27, 2010 at 8:43 am |
  6. Jay

    It's great that the Ecuadorian guy was able to get his daughter the medical treatment she needed.
    But he out-stayed his temporary visa by 13 years, had another daughter, and worked illegally until the poor economy cost him
    his job....and now he's on TV b'cause he's having a hard time getting out of a country he's not legally supposed to be in?

    Give me a break.

    July 27, 2010 at 8:41 am |
  7. MeloN

    Illegal aliens having a hard time finding work??? ... lol ... As well they should. There shouldn't be any job for anybody in the country illegally.

    I also find it hilarious that CNN's stance is pro-illegal alien and anti-American.

    If a hungry and homeless person broke into your home .. would you allow them to stay just because they did the dishes?

    More irony.... if you are an illegal alien in Mexico you'll get arrested but at the same time Mexico ships it's own citizens by the busload to flood the US illegally... and the Mexican Government supports it's citizens invading the US.

    It's like living in bizarro world.

    July 27, 2010 at 8:35 am |
  8. Stephanie

    Randall: You should really not be spreading false information; do some research!!

    The memo sent to Scotland about the release Megrahi stated THREE things:

    1. The Obama Administration OPPOSED the release of the Megrahi release on any grouns.

    2. The Obama Administration wanted an independent physician to do a complete physical exam of Megrahi to ratify OR dispute the Scottish doctor's conclusions.

    3. IF the SCOTTISH gov't decided on the release, which the Obama administration vehementally OPPOSED, they urged that he be released and kept in Scotland to avoid the hero's welcome he would receive on his return to Libya.

    If you even read the complete blog on Fox's website you would have discovered the total content of the article.

    Scotland is a free, democratic country that makes its own judgments just like America. America can disagree but shout of imposing sanctions ot declaring war, they have NO jurisdications over the decisions of the Scottish gov't.

    July 27, 2010 at 8:34 am |
  9. Michael Armstrong Sr.

    Will the Mexican government even allow them back over the border in great numbers getting them there should be a snap with some buses .

    July 27, 2010 at 8:26 am |
  10. Michael Armstrong Sr.

    I bet John could play some AC/DC how about now .

    July 27, 2010 at 8:22 am |
  11. vic nashville tn

    We can’t trust Pakistan, I thought 2008 our presidential candidates get this after election over every one stop talking about this
    We know Al –Qaida in Pakistan from 2002 they didn’t do nothing .prove London bombs and Mumbai attack

    July 27, 2010 at 8:16 am |
  12. Mike Posey

    For the 1st time in 3 months, BP did something RIGHT! Firing that Hayward clown was LONG overdue....Now, let's see if they can clean up our Gulf? I think NOT.....Just because an American is taking over means NOTHING. It's still the BOTTOM LINE with BP. The American will produce a good one, or he'll get handed his "bowler" also. BP is what's wrong with this world....Arrogant, and selfish.....They couldn't care LESS about the tens of thousands left with little or nothing along the Gulf Coast...Hell, they're selling the oil that their various "efforts to cap the well" has allowed to come up? What's that about? Goodbye Toney, been good to know ya'....Mike Posey Lakeside California

    July 27, 2010 at 8:12 am |
  13. MeloN

    Yeah... Obama "secured" an agreement for BP to come out of their pocket for 20 Billion but the money isn't reaching the people that need it.

    Is 20 billion even enough? Has the Government done/doing enough up till now?

    July 27, 2010 at 8:06 am |
  14. Alan Lockwood

    This whole mess has gone on long enough! It took way too long for things to happen and have Hayward out of the scene. With the amount of BP's losses, I still can't believe they are giving him a settlement. They should know better and use the money toward gulf coast residents. Not to mention the US goverment should have been involved more indepth!

    July 27, 2010 at 8:05 am |
  15. Michael Armstrong Sr.

    B.P. is going to cut and run and the 20 billion dollars promised was a ploy to avoid prosecution to its corporate bosses there profits and stock holders just does not add up to a short term payment .

    July 27, 2010 at 7:51 am |
  16. chuck

    Well the USA wakes up to what most must feel like the end of the battle with england after all the years i thought the war was over, but i guess not i mean after all, the the way we went after tony hayward like he was the only one that made mistakes, my lord how can we even think we had a right to go after this man. why not put the blame where it belongs, on everyone who refuses to get off oil and keep letting our energy wants control where and how we get it instead of going forward and doing away with the use of oil in this country, i hoped and prayed this was the moment of truth and we would do something about it but as we are known to do we whine and complain and in the true light of things nothing is going to change par for us and many more oil related realities just as bad as the gulf or more serious will pleage us in the future. we need to be more independent and go forward not stay as we are or go backwards much better energy is out there why is it so hard to get with the program and make the changes and then we would have fewer worries about oil..........

    July 27, 2010 at 7:50 am |
  17. nancy

    About time!! NOW, we'll see if Dudley Do Nothing will DO something right.

    July 27, 2010 at 7:49 am |
  18. Jeff Black

    BP ousts CEO Hayward and taps an American

    It's so easy to be an armchair critic. I thought Tony Hayward did pretty well considering how he was thrust under a microscope. People are so judgmental these days. Few of you outspoken critics would perform near as well if you were suddenly in similar circumstances. Why don't we all lose the vitriol and concentrate on the task at hand and preventing future recurrences?

    July 27, 2010 at 7:48 am |
  19. clint

    How can you say that the Obama administration won't "do anything", when the Obama administration has secured at least 20 billion dollars for the people of the Gulf. I think that attempting to make the oil spill fit a particular political agenda is ignorant.

    July 27, 2010 at 7:48 am |
  20. MeloN

    Take the people that are in the country illegaly to the border and give them a boot in the ass.

    Cheap and effective.

    July 27, 2010 at 7:41 am |
  21. MeloN

    mike sey... are you a brit by any chance?

    The only thing that's clear is that BP is a company that disregards the safety and wealthfare of their employees, disregards the laws of America just to chase down the almighty dollar. You attempting to make Toxic Tony as some kind of victim only shows your disregard for America and Americans as a whole.

    July 27, 2010 at 7:31 am |
  22. Randall of Texas

    Who is so naive to believe that the Bush-Cheney administration won't have and isn't having huge implications on America and will have for at least another 7 years.

    July 27, 2010 at 7:31 am |
  23. Julie

    Maybe they should also pressure BP to clean up Nigeria, where spilling has been going on for over 50 years, not only killing people, but tons of wildlife and eco system. Or maybe repair the pipeline ready to collapse In Alaska. And, Retarded People want that "Drill baby drill"???????
    Oil companies have suppressed for decades technology that should have gotten rid of the gasoline guzzling engines 85 years obsolete.

    Question. What oil companies got all that stolen oil out of Iraq for 6 1/2 years due war appropriations?
    Did anyone ever connect the response of what Bush started building just 3 months into office this pipeline through Afganistan and, why the towers were hit on 9/11??

    July 27, 2010 at 7:20 am |
  24. Randall of Texas

    There is a book coming out this November that will give American's an opportunity to change America's Constitutional 18th century government to a 21st century American Constitutional government and America should be considering a change in constitutional government operations or someday the status quo might wake up and see something like the Lincoln Center reduced to rubble...just as a warning...

    July 27, 2010 at 7:09 am |
  25. mike sey

    I don't feel too bad for Tony because he'll make out alright, but it is clear that xenophobia, and America's insatiable demand for instant gratification and scapegoats, and its toxic politics rather than his performance hounded him out of office.

    His 'life back" comment was twisted beyond recognition, and now the whining is beginning over his salary and settlement even though its probably a pittance compared to what he would have received in the US. Fat Chance Bob Dudley will be a dollar a year man!

    July 27, 2010 at 7:05 am |
  26. MeloN

    Toxic Tony and BP have the typical British attitude about America. They hate our country but like us when we are needed to save their asses or they want our business. Should run all British companies and citizens out of the US on a rail

    July 27, 2010 at 7:03 am |
  27. Jeff Black

    You guys just messed up on your milk recommendation. The lower the fat, the higher the lactose = sugar. 2 glsses of 1% or skim milk = lots of sugar, whereas heavy cream for instance has 0g sugar.

    July 27, 2010 at 7:03 am |
  28. Randall of Texas

    The sorry humans also negotiated with the British government to release the Lockerbie bomber and now our government will be coming out as thick as thieves in bed with the guys.

    Our U.S. military gets it's largest amount of fuel from British Petroleum don't they?

    What was it Bobby Nynguesser was saying about the United States acting in behalf of British Petroleum in favor and allowing some equipment removal from his Parrish?

    Kiran Chetry how is Melissa, our friend in recovery?

    July 27, 2010 at 6:48 am |
  29. pfriday

    passing the buck, what would you have done?

    early in the spill, all that anyone knows is that there was an explosion and there was a massive oil leak. Noone knows now how it happened or who missed what.

    the last think I expected days into to this spill is someone (BP, haliburton, EPA or anyone else) and say they were responsible – even today no-one knows.

    July 27, 2010 at 6:40 am |
  30. Ronny

    Dudley won't be much different than Hayward as both are only mouthpeices for BP. They just want an American in place to "show" BP cares about America. Won't happen.

    July 27, 2010 at 6:20 am |
  31. ryan

    John should appreciate this coming from Canada.Robert Dudley is now
    "Dudley Do Right ""

    July 27, 2010 at 6:11 am |
  32. Jesse

    It's about time that he was taken off of the CEO position. I've never seen a more incompetent individual in the handling of a disaster such as this.

    July 27, 2010 at 6:02 am |
  33. Ronny

    Good Morning CNN!

    Toxic Tony getting his payoff while the Americans in the Gulf suffer and go without yet the Obama Administration can't, won't or are unwilling do anything to force BP to pay up. Obama afraid of losing his rice ball I wonder.

    July 27, 2010 at 5:55 am |