Tony Hayward Resigning Soon as BP CEO

GULF DISASTER

Updated Apr. 24, 2017 6:33PM EDT / Published Jul. 25, 2010 3:27AM EDT

After 28 years with the company, Tony Hayward has reportedly reached the end of the road at BP. According to the BBC, the gaffe-prone CEO, who has been widely lambasted for his handling of the oil spill, is negotiating the terms of his resignation and will formally announce it soon. BP's board will meet on Monday to discuss a change in leadership. Hayward will likely be replaced by Bob Dudley, who is currently in charge of the clean-up operation. Hayward seemed to have been on his way out for some time, but the company wanted to be seen making some progress on plugging the leak before a management shakeup. Meanwhile, ships returned to the site of the blown out well late on Saturday. Retired Coast Guard Admiral Thad Allen said he hopes to finally have a relief well completed before another major storm hits. "We're going to be playing a cat-and-mouse game for the remainder of the hurricane season,” he added.

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Tony Hayward Resigning Soon as BP CEO