London Times: Tony Hayward to Step Down

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Photo: Win McNamee/Getty Images

The London paper is reporting that BP CEO Tony Hayward is preparing to resign, and will do so within the next ten weeks. BP immediately denied the Times’ claim: BP spokesman Daren Beaudo told CNN, “There is no truth in this article … Mr. Hayward is not leaving.” The London Times cites “sources” close to the company in its report and refers to “growing expectations” that he will soon be announcing his departure. The story quotes a company insider as saying, "You would be hard-pushed to find anyone within the company who does not think he is irreparably damaged — both by his own performance and by the event itself.”

Report: Tony Hayward preparing to resign from BP
[CNN Money]