BP Appoints Tony Hayward as Chief Executive as Lord Browne
Steps Down

Following a decision taken by Lord Browne to step down as the company's chief executive officer, the Board of BP p.l.c. has appointed his designated successor, Dr Tony Hayward, as new CEO with immediate effect.

Lord Browne tendered his resignation after the lifting by the UK courts of a legal injunction preventing a newspaper group from publishing details of his private life.

Lord Browne said: "In my 41 years with BP I have kept my private life separate from my business life. I have always regarded my sexuality as a personal matter, to be kept private. It is a matter of deep disappointment that a newspaper group has now decided that allegations about my personal life should be made public. "I have spent my entire working life with BP, and want to thank everyone for their dedication, loyalty, support and hard work in creating one of the world's finest companies."

Mr Sutherland said: "John has made it clear to the BP Board that he has decided to step down with immediate effect because he does not want this public focus on his private life to detract from the paramount task of running the BP group.

"The Board of BP has accepted John's resignation with the deepest regret. For a chief executive who has made such an enormous contribution to this great company, it is a tragedy that he should be compelled by his sense of honour to resign in these painful circumstances."

Find out about  BP

Search for more BP News

Posted 02/05/07

Back