BP to replace its CEO over oil spill tragedy

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London, Jul 27: Robert Dudley will be replacing BP chief executive officer Tony Hayward from Oct 1, 2010 over the Gulf of Mexico oil spill issue.

The company on Tuesday, Jul 27 had announced that it would take a charge as a result of the Gulf of Mexico oil spill amounting to $ 32.2 billion, driving BP to a second quarter loss of $ 16.97 billion.

After the announcement, Hayward's departure news had come.

"The tragedy of the Macondo well explosion and subsequent environmental damage has been a watershed," said chairman Carl Henric Svanberg.

While announcing Hayward's departure, Svanberg said, "BP remains a strong business but it will be a different company going forward."

Hayward will receive a year's salary amounting to 1.045 million pounds.

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