Indiana Grain Company, LLC

Posted: 07/26/10

By: tomgrisafi

Tony Hayward, the public face of BP's unfortunate efforts to contain the Gulf oil spill, "will step down as chief executive in October and be offered a job with the company's joint venture in Russia," a source told the AP on Monday.

BP has had a problem with it's public image since the April 20th explosion of the Deepwater Horizon. A lot of it has been placed on BP's CEO Tony Hayward. In late June, BP said Hayward would stay on as Chief, but now conflicting reports say a decision ha been made to replace him with American Bob Dudley.

Hayward has been under fire since the beginning of this disaster. First was the slow increment of estimated oil leak. First it was reported to be 1,000 gallons a day, but latest government estimates were as high as 80,000 gallons each day.

A senior U.S. government official said Sunday that Hayward is on his way out but didn't know who would be his successor. The official was briefed on the decision last week and spoke on condition of anonymity because an announcement had not been made.

BP said this morning that "no final decision" had been made about management changes. The oil company said its board would meet Monday evening, a day before it announces earnings for the second quarter.