Looks like BP CEO Tony Hayward finally got his life back.
BP announced Tuesday that Hayward will be replaced by American Robert Dudley come October. The company also reported a record quarterly loss–$17 billion–and put aside $32.2 billion to pay for the Gulf spill.
Dudley will be BP’s first non-British CEO.
Hayward will be leaving with $1.6 billion in salary as a parting gift from BP, since he is being replaced without one year’s notice and a recommendation for a Russian venture with BP.
THE FINAL FIX
The so-called “static kill” — in which mud and cement are pumped into the top of the well — should start Aug. 2. Because the well is now capped, that effort will be more controlled than a previous failed effort, a “top kill” in which mud was shot into the still-spewing well. A relief well is nearly complete for the final stage, a “bottom kill” in which mud and cement are pumped in from deep underground. Work could begin Aug. 7 and could take days or weeks, depending on how well the static kill works.