Posted by Jed Lewison @ Daily Kos on Mon Jul 26, 2010 at 9:46 AM Pacific

BP to replace Hayward with Dudley

BP Is Expected to Replace Chief With American

BP’s board is expected on Monday to name an American, Robert Dudley, as its chief executive, replacing Tony Hayward, whose repeated stumbles during the company’s three-month oil spill in the Gulf of Mexico alienated federal and state officials as well as residents of the Gulf Coast.

The planned appointment of an American to run the London-based company, which was confirmed by a person close to BP’s board, would underscore how vital the United States has become to BP. About one-third of the company’s oil and gas wells, refineries and other business interests are in the United States, and 40 percent of its shareholders are Americans.

The move would also be a recognition by the board that even though the oil has stopped spewing into the gulf, dealing with the consequences of the Deepwater Horizon accident — from tens of billions of dollars in claims to possible criminal charges and new regulations on offshore drilling — is likely to dominate the company’s agenda for years.

Before you go celebrating the fact that finally somebody from BP has lost their job over this leak, keep in mind that this isn't exactly a model example of accountability. Hayward isn't being canned because of BP's poor safety record, which had been established long before the disaster in the Gulf.

Instead, Hayward is being canned because BP thinks he wasn't a good spokesman. In other words, BP thinks their problems have more to do with the nationality of their CEO than the consequences of their corporate policies. And with their new pick, selecting a long-time BP insider to replace Hayward, BP is signaling that they have no real intention of changing anything about how they do business. The only thing they want to change is the accent. But even if this move does end up helping BP's shareholders in the short-term, it won't make anybody safer or more secure, and it won't help stop their next disaster. It's an image move, having nothing to do with substance.

NYT:

BP Is Expected to Replace Chief With American

BP’s board is expected on Monday to name an American, Robert Dudley, as its chief executive, replacing Tony Hayward, whose repeated stumbles during the company’s three-month oil spill in the Gulf of Mexico alienated federal and state officials as well as residents of the Gulf Coast.

The planned appointment of an American to run the London-based company, which was confirmed by a person close to BP’s board, would underscore how vital the United States has become to BP. About one-third of the company’s oil and gas wells, refineries and other business interests are in the United States, and 40 percent of its shareholders are Americans.

The move would also be a recognition by the board that even though the oil has stopped spewing into the gulf, dealing with the consequences of the Deepwater Horizon accident — from tens of billions of dollars in claims to possible criminal charges and new regulations on offshore drilling — is likely to dominate the company’s agenda for years.