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Reports: BP CEO Negotiating Exit Terms

This article is more than 10 years old.

British media are reporting that BP chief executive Tony Hayward is negotiating the terms of his departure ahead of the oil company's results announcement later this week.

Citing unidentified sources, the BBC and Sunday Telegraph reported detailed talks regarding Hayward's future had taken place over the weekend. The BBC said a formal announcement on Hayward's exit is expected in the next 24 hours.

Asked about the reports, BP spokesman Toby Odone said Sunday that "Tony Hayward remains BP's chief executive, and he has the confidence of the board and senior management."

BP's board is scheduled to meet Monday in London ahead of the company's half-year results announcement Tuesday.

Hayward has been under heavy criticism over his leadership during the Gulf of Mexico oil spill.

This program aired on July 25, 2010. The audio for this program is not available.

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