BP’s Board of Directors met yesterday in London to discuss plans for the company moving forward and an exit strategy for Hayward. Apparently, they lost confidence in Hayward and were angry at his mishandling of the Gulf of Mexico oil spill, particularly his odd and unforgettable gaffe of a statement “I want my life back.”
Today, BP’s board replaced Hayward with Bob Dudley, a senior U.S. executive who is currently managing the oil spill response. But don’t feel too bad for the former BP Chief, as he won’t be in the unemployment line anytime soon. BP is merely shuffling the deck with Hayward, sending him to BP-TNK, which is a Russian related affiliate of the British company. They are also paying him a severance package equal to about $18. million US dollars. Wow!
