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BP's Hayward Stepping Down as CEO, Banished to Siberia

BP CEO Tony Hayward, who holds a Ph.D. in geology, is vacating his CEO position by "mutual consent," BP's board announced late Monday. His new assignment, beginning in October, will be the company's Siberian fields, a BP crown jewel. The 50-50 joint venture is based in Moscow.

American Bob Dudley, who is from Mississippi and has been overseeing the oil spill efforts, will step in as the new CEO.
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Associated Press

LONDON – BP is jettisoning CEO Tony Hayward, whose verbal blunders made the oil giant's image even worse as it struggled to contain the Gulf oil spill, and will assign him to a key job in Russia, a person familiar with the matter said Monday.

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Who is Bob Dudley? Five things to know about BP's new point man. [Christian Science Monitor]