Bob Dudley

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BP CEO Shouldn't Get 20% Raise After $5.2B Loss: Investors

But vote's nonbinding, so looks like Bob Dudley will get his full bonus

(Newser) - Oil giant BP lost $5.2 billion last year, but the company somehow saw fit to propose maximum bonuses for 2015 for its top executives, including a 20% pay increase for CEO Bob Dudley—a proposal that 59% of shareholders roundly rejected by proxy vote at Thursday's annual meeting,... More »

BP Faces $52B in Gulf Spill Fines

With trial to begin tomorrow, lawyers negotiating furiously

(Newser) - With the trials set to begin tomorrow for BP and the other companies involved in the 2010 Gulf of Mexico oil spill, BP alone could conceivably face up to $52 billion in fines and compensation, reports the AP . Under the Clean Water Act, which requires a minimum of $1,100... More »

New BP Boss Decries 'Rush to Judgment'

But Bob Dudley says he doesn't plan on 'quitting America'

(Newser) - Newly minted BP CEO Bob Dudley spoke out in defense of his company’s handling of the Gulf oil spill today, saying there had been “a great rush to judgment” on the part of the media and rival oil companies. “I watched graphic projections of oil swirling around... More »

New BP CEO Proposes 'Scaleback' in Cleanup

Surface skimmers less necessary now: Dudley

(Newser) - BP's incoming CEO said today it's time for a "scaleback" of the massive effort to clean up the Gulf of Mexico oil spill, but stressed the commitment to make things right is the same as ever. Tens of thousands of people—many of them idled fishermen—have been involved... More »

In Bob Dudley, BP Has Picked Another Loser

He messed up business in Moscow so badly two governments got involved

(Newser) - Talk about failing upward: John Helmer, a Moscow-based blogger and journalist, reacts to BP's promotion of Bob Dudley to the CEO spot vacated by the humiliated Tony Hayward with incredulity. "To pick Dudley requires a spill of brains in the BP board room that is blacker than the spill... More »

BP Confirms Hayward Exit

$17B loss bared, Bob Dudley to take over

(Newser) - BP has confirmed that embattled chief executive Tony Hayward will be stepping down as of October. Hayward will be replaced by American Bob Dudley, whom BP's chairman describes as "a robust operator in the toughest circumstances." The announcement came as a statement accompanying BP's quarterly earnings update revelaed... More »

Tony Hayward Will Exit in October

Still no official word from BP

(Newser) - Tony Hayward's impending exit, long grist for the rumor mill, will take place in October, a BP source tells the BBC. There's still been no official announcement from BP, but the source says Hayward will be reassigned to the oil giant's joint venture in Russia; his compensation package is unknown.... More »

BP 's Hayward Headed Toward Exit

BBC says he's 'negotiating his exit deal'

(Newser) - It's long been rumored that the end is nigh for Tony Hayward, but the BBC now says the BP CEO is "negotiating an exit deal" that will be announced within 24 hours' time. The company continues its line that Hayward has the "full support" of the board and... More »

Meet Bob Dudley, BP's Tough New Gulf Boss

American Bob Dudley takes over spill management

(Newser) - Now that Tony Hayward has gotten his life back , BP is turning to a yank—Bob Dudley—to salvage its Gulf debacle, and the managing director may actually have had tougher jobs than this one. Dudley made a name for himself by steering BP's Russian consortium through a bizarre political... More »

BP Pulls Hayward From Spill Duties

Chairman says he'll deal with media more

(Newser) - Looks as though Tony Hayward’s getting his life back after all. The BP CEO is handing over operations in the Gulf of Mexico to managing director Bob Dudley and heading back to England, at least for a while, chairman Carl-Henric Svanberg tells Sky News . Hayward probably won’t be... More »

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