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July 26th, 2010
Tony Hayward Get's His Life Back...and $23 Million.

The cost of the disaster means the firm is expected tomorrow to reveal the biggest ever quarterly loss - almost 9BILLION - in UK corporate history. BP is to pay the US 13billion in compensation after four million barrels of oil spewed into the Gulf after a rig explosion in April.

Mr Hayward - slammed for his handling of the crisis - would be due a 1million salary pay-off, share options worth 2.7million and a 10.8million pension pot.

He is set to be replaced by US managing director Bob Dudley in the first step to a "Future BP".

A huge restructuring could see the firm sell its refining operations and petrol stations to concentrate on finding oil and gas.

Mr Hayward was unavailable for comment last night. BP would say only that he "remains our chief executive and has the full support of the board and senior management". But his departure could be announced after a board meeting today.



(THE SUN)
 


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