Tony Hayward out as BP CEO; American Bob Dudley Steps In

Tuesday, July 27, 2010

Bob Dudley, the Executive Director of BP, arrives at their headquarters in St James's Square on July 26, 2010 in London, England. Tony Hayward, the Chief Executive of BP, is expected to stand down. (Oli Scarff/Getty)

Everyone heard the rumblings in the distance, but with the second-quarter earnings reports this morning, BP finally dropped the bomb: Tony Hayward is out. He'll step down from his post as BP's CEO this October. It's been reported that he’ll be sent to Russia to work on a BP joint venture there.

Stepping up into Hayward's oil-soaked shoes is BP Managing Director Robert Dudley. Dudley is an American from Mississippi, and he's been in charge of the spill response for the past month.

This news comes on the same day that BP releases its second quarter earnings report, revealing a $17 billion loss in the second quarter. The British company is looking to rescue its bottom line and its reputation. We don’t have a crystal ball, of course, but we do have Alice Schroeder, columnist at Bloomberg News, and Captain Danny Wray, who's cleaning up oil down on the gulf.

We want to hear from you. What is the first thing that BP's new CEO needs to do?

Guests:

Alice Schroeder and Danny Wray

Comments [1]

ch703 from White Plains

Address the "cultural" conditions to allowed for the long standing disregard for safety first as a business priority to enable this disaster and all the multitude of infractions that led up to it. Let's face it Heyward's biggest failure was not his sullen, selfish and lifeless appearance in front of camera.

Jul. 27 2010 09:33 AM

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