BP's Hayward to leave as CEO; Russia job in works

Wel-l-l-l-l Tony I hope you've gotten back your life or at least are working hard to get it. So glad to hear you still have a job, not. < :-)

If there were any justice in the world, 'joint venture in Russia' would be a euphemism for 'gulag in Siberia'.

his annual pension will be 6 million pounds. not too shabby. if there were any justice he would be in prison by now.

Don't worry everyone. Hayward is getting what he deserves. The Russians have ripped off BP a few times and are likely to do it again.

It's a rough, hard life for an oil company executive isn't it. Take excessive risks and throw in some accounting fraud to justify your huge salary, and then when things blow up you leave the shareholders and society holding the bag. No need to pay any of the money back, just shuffle off to another position with a nice fat pension.

I'm not sure he'll have so much fun, cause the FSB seems to be quite interested in the Russian arm of BP too. http://www.rferl.org/content/article/1079669.html

This guy's only crime was he spoke his mind. BP evidently think Haywood is fully competant - the Russian operation he will likely move to earns a full quarter of BP's earnings. I'm wondering what the backlash would be like had he been American.

Saying that the gulf accident was his fault is ridiculous. Fact is that the rig operators and others also to blame. and they were operating to US regulations which are slack and shoddy compared to other countries rules. Typical American scapegoating approach rather than dealing with the real issues that the gulf spill points to.

Why isn't this guy in jail?

Why isn't this guy in jail?

And why would he be put in jail?

his annual pension will be 6 million pounds. not too shabby. if there were any justice he would be in prison by now.

Yep, and the new Russian job is not too bad .... He'll probably earn a quarter less of his former BP spot. Tough luck, Mr HAYWARD :(

And why would he be put in jail?

He won't, BP's just too big to fall

off to russia are we?? wont have to worry about environmental concerns there will we??

proudnippon - haywards pension will be 600k, you added a zero. Still not too shabby though.

Calling for Hayward to be jailed is premature, so far he's guilty of nothing more than poor PR presence. See the investigation results before casting judgement. I have no doubt we'll see safety failings across the board with BPs pension shareholders footing th bill.

haywards pension will be 600k, you added a zero.

You forgot annually-- still swell, and I do hope he gets his life back =/

The guy should donate his pension to the Gulf residents.

And why would he be put in jail?

I don't know, maybe something to do with the massive safety violations his company engaged in leading up to a massive enviromental disaster? Obviously if the laws aren't written that way then it can't happen, but are you really taking issue with people's desire for actual accountability?

Instead of a sailboat -He may want to procure an icebreaker.

I wonder what the "little people" do in Siberia these days?

I don't know, maybe something to do with the massive safety violations his company engaged in leading up to a massive enviromental disaster? Obviously if the laws aren't written that way then it can't happen, but are you really taking issue with people's desire for actual accountability?

Ah, so if say someone at the Justice department say screwed up, perhaps decided not to prosecute certain cases etc, Obama should be arrested and thrown in jail? Just because a person is the head of an organization, doesn't make him culpable or liable when those in his employ do things wrong. I'm not excusing the man, however this blanket statement, that the man belongs in jail, when there has been no trial, no presentation of evidence, smacks me as wrong. Wait until there is a clear trail from the failure in the gulf, to Hayward to make these kinds of calls.

why do people seem see and think in tunnel vision?!?! please reseach to see if other people and companies where invold before you wrip BP a new one! check US law and saftey and employees on the rig who turned off alarms!

Tunnel vision I say!

This guy's only crime was he spoke his mind. BP evidently think Haywood is fully competant- the Russian operation he will likely move to earns a full quarter of BP's earnings.

They are just taking care of a member of the tribe. You think they are going to go around setting dangerous precedents on corporate accountability? Why should a corporate executive be in any way liable or suffer any loss for his incompetence? That is what the "small" people are for, to take the hit. There is no way in the world that BP would have been still been trying to get this well drilled if Hayward and other execs faced personal liability if things went wrong.

By the way, one of the most important jobs for a CEO is crisis management when necessary, and the public relations that goes with that. Speaking his mind was not an option, and his inability to handle the PR role is just another sign of his incompetence.

I don't know, maybe something to do with the massive safety violations his company engaged in leading up to a massive enviromental disaster? Obviously if the laws aren't written that way then it can't happen, but are you really taking issue with people's desire for actual accountability?

So basically you're saying that he hasn't broken any laws but he should go to prison. I always thought that prison was purely for law breakers not for people we don't like.

Is there an article to tell us the size of the hit British pensioners took?

I was reading that across the pond in merrie olde England these days President Barack Obama, as result of his 20 billion dollar shakedown of BP, is the most hated American leader since Richard M Nixon.

Before the spill BP was Britain's biggest company and had a stock market value of 122 billion pounds. Since then, 49 billion has been wiped off its value.

That had some repercussions I am sure.

MisterCreosote, the hit has not simply been taken by British pensioners, 40% of BP's shareholders are American. The pain will be shared.

From what I can tell nobody back home thinks BP should get off scott free, they definately believe there is a huge cost to this debacle. That said I think there is huge resentment over the shameless political point scoring going on in the US.

Tony Hayward earned a PhD in geology. He's obviously smart with the subjects, but like many eggheads, he's inept in social situations - what sometimes blurts out his mouth is the wrong thing to say or the wrong thing to do. BP needs a new CEO that could communicate better with words and actions, especially during a major crisis.