Tuesday, July 27, 2010

BP (NYSE:BP) Going to Send Hayward to Siberia?

Speculation continues to swirl over the fate of BP (NYSE:BP) CEO Tony Hayward, as there are unlimited expectations an announcement will come soon from the board of directors of the company, probably at the earnings report on Tuesday.

Spokesman for BP have continued to say the board supports Hayward, so it'll be interesting to see if this media-created story becomes a reality because of the negative scrutiny it maintains on the company.

Unnamed sources have been cited by a number of news organizations saying Hayward could be assigned to TNK-BP in Russia. I wonder if it's anywhere near Siberia?

There have been several names thrown about, but the media darling at this time is Robert Dudley, who is currently running the Gulf cleanup operations. At least he's the favorite of the American press.

The board of directors of BP held a meeting Monday, evidently to make a decision on Hayward. That's odd in the sense of everything they've said about Hayward, and possibly the timing, which most feel would be better if left until after the oil spill is permanently plugged.

In the short term, this is really an irrelevant distraction generated by the mainstream media, who are attempting to extend the story to draw eyeballs.

Who really cares at this time who's running BP, as it does absolutely nothing to change the circumstances and actions needed to be taken to solver the problem. Changing CEOs at this time won't matter in that regard, other than giving the news cycle a temporary boost.

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