Tony Steps Down...Or Get's Kicked Upstairs...Whatever

BP has announced that its embattled CEO Tony Hayward is to stand down from October 1. Hayward, the face of the oil company's bumbling efforts after the Gulf of Mexico oil disaster, is heading to a new role in Siberia.  Hayward has worked for the oil giant for 28 years, brought in to bring stability to BP's management, but has since come under fire for his gaffe-prone handling of the worst oil spill in US history.

More than five million barrels of oil have spilled into the Gulf of Mexico since the undersea leak began in late April, according to US government estimates, hitting the coastlines and economies of five states and killing or injuring countless millions of sea creatures and coastal birds ( Not to minimize the  loss of human life).
Hayward will take up a position with the Russian branch of the company, TNK-BP.
It's not yet clear what Hayward's role will be with TNK-BP, but the job suggests BP still holds more faith in Hayward than much of the U.S. public and political establishment do. Analysts consider the Russian venture one of BP's crown jewels; it accounts for a quarter of the company's production.

It is expected Hayward will be succeeded by BP Managing Director Bob Dudley, who is currently heading up the company's oil spill cleanup in the Gulf of Mexico.

Hayward will retire on a lifetime pension of  $1.2 million a year and a share package worth millions if BP ever recovers its value on the stock market. BP's value dropped by over $100 billion on Hayward's watch. And so that is how they reward gross incompetance followed by total insensitivity. Tony will be quite comfortable.  Well done.