NEW YORK (CNNMoney.com) — BP’s beleaguered chief executive, Tony Hayward, is preparing to step down from his position within the next 10 weeks, the Times of London reported Tuesday, citing “sources” close to the company.
Hayward and his management choices have drawn a barrage of criticism since BP’s Deepwater Horizon drilling rig accident began spewing oil into the Gulf of Mexico 92 days ago. Its share price hammered, BP is fighting to ensure that it has the resources to pay the billions it now faces in fines, cleanup expenses and compensation claims from local workers and businesses.
