Hayward Hands Over Oil-Spill Role

Smart move: After being grilled by Congressional Democrats, BP's chief executive Tony Hayward is relinquishing his role as the head of day-to-day oil-spill operations and handing over the baton to Robert Dudley, the company's managing director since 2009. BP's chairman Carl-Henric Svanberg told Sky News, "It is clear Tony has made remarks that have upset people," adding that he will play a more visible role in managing fallout from the Gulf oil-rig disaster. "This has now turned into a reputation matter, a financial squeeze for BP, and a political matter and that is why you will now see more of me," he said. Svanberg admitted that BP had planned for Hayward to be the principal voice for the company, but that political circumstances had changed all that: "As this is now turning to a different type of crisis, that is where I come in."