BP boss on way out

The boss of troubled oil giant BP, Tony Hayward, is poised to quit within days, the Sunday Telegraph newspaper reported.

Hayward, who has been heavily criticised over his handling of the Gulf of Mexico oil spill crisis, is set to step down before BP announces its half-year results Tuesday, the paper said.

Reports have suggested for days that Hayward would resign at some point in the coming weeks as British-based BP battles to recover its reputation in the wake of the spill.

The Sunday Telegraph said that there could be wrangling over Hayward’s severance package, under which he is likely to be paid a minimum figure just over a million pounds.

BP has said that Hayward “has the support of the board and management” but has declined to make further comment on media reports.

Source: AFP