http://www.nytimes.com/aponline/business/AP-Britain-BP.html?hp&ex=1168664400&en=e8026cf05e4fe86d&ei=5094&partner=homepageBP's chief executive is stepping down by the end of July -- more than a year ahead of schedule -- after a series of high-profile mishaps including a deadly refinery blast in Texas and a giant oil spill in Alaska tarnished the image of one of the world's largest oil companies.
BP PLC said Friday that Chief Executive John Browne, 58, will be succeeded by Tony Hayward, the head of exploration and production, who will take over the difficult task of trying to repair the company's reputation with investors and the public.
Browne, whose future has been the subject of intense speculation, had announced in July that he would step down at the end of 2008.
''Last summer, John and I had agreed that he would stay as CEO until the end of 2008,'' said BP Chairman Peter Sutherland. ''John decided that it would be in the company's interest to name a successor now in order to provide an orderly transition. Having made that decision, which the board fully supports, we came to the conclusion that a six-month handover would be more appropriate than 18 months.''
BP execs should be jailed IMHO for not paying to make sure their refinery equipment was up to date and safe. For 6 million they could've had a venilation stack even with all the errors and missteps taken that would've prevented that deadly explosion at Texas City. I was watching a "Seconds to Disaster" report on this last night made me angry at this jerk and his execs.
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