Article

2010-07-26 Economy

BP boss set to resign within 24 hours, says report

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Posted by Fred 2010-07-26 00:00|| || Front Page|| [1 views ] Top

#1 The Sunday Telegraph said that there could be wrangling over Hayward's severance package, under which he is likely to be paid a minimum figure of just over one million pounds (Sh120 million).
Looks like he wrangled it up to $20 million.

Posted by tipper 2010-07-26 00:14|| 2010-07-26 00:14|| Front Page Top

#2 Wouldn't put it past him to negotiate a million or more options on BP stock, at the current (greatly reduced) strike price.

Posted by lex 2010-07-26 09:46|| 2010-07-26 09:46|| Front Page Top

#3 above = Example #437 of our Oligarchy's favorite game, "Heads We Win / Tails They Lose"

Posted by lex 2010-07-26 09:47|| 2010-07-26 09:47|| Front Page Top

#4 Tony Hayward probably wouldn't know a blowout preventer from a drill bit if he saw one. His job is to run the corporation business. Not drill oil wells. His responsibility is to the investers. Not the spill victims. People who worry about the little people don't last long in the corporate boardrooms. His job is to make money, not friends. And if the stocks take a tumble on your watch well ...... it's been nice workin with ya Tony, nothing personal ya know, it's just business.

Posted by junkiron 2010-07-26 16:05|| 2010-07-26 16:05|| Front Page Top

#5 Well said, junkiron. And don't let's forget, most of Mr. Hayward's pay and bonuses are in stock options, not cash... and set at an ambitious future target price that reflects solid company growth and profits, not the current cock-up. Which means they are worth absolutely nothing at the time of his separation.

Posted by trailing wife 2010-07-26 19:02|| 2010-07-26 19:02|| Front Page Top

00:19 JosephMendiola
23:53 JosephMendiola
23:49 trailing wife
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23:28 Asymmetrical Triangulation
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23:17 Fred
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22:48 Mike Hunt
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