Although it was inevitable:
BP replaces CEO Tony Hayward with Robert Dudley - Jul. 27, 2010
Tony Hayward will step down as chief executive of BP, the company announced Tuesday, amid ongoing outrage over the oil spill in the Gulf of Mexico.
BP said Hayward will be replaced by American Robert Dudley effective Oct. 1.
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Given his recent performance, compensation experts say he will probably not receive the lucrative cash bonuses or stock awards given to many outgoing executives at comparable U.S. corporations.
BP replaces CEO Tony Hayward with Robert Dudley - Jul. 27, 2010