Hayward Out? BP Board to Rule on Embattled Exec

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BP CEO Tony Hayward

Benjamin J. Myers/Corbis

Rumors abound that BP will remove Tony Hayward as its CEO. The company’s board will meet tonight, potentially to discuss his fate.

Robert Dudley, an American who is leading the company’s cleanup efforts in the Gulf, is said to top BP’s list to replace Hayward. Since the oil spill, the company has lost a third of its value. If Hayward were to be replaced, he probably would stay on until the fall, ensuring an easy transition.

Despite the swirling rumors, the company isn’t revealing anything yet. BP said in a statement, via CNNMoney:

“BP notes the press speculation over the weekend regarding potential changes to management and the charge for the costs of the Gulf of Mexico oil spill … BP confirms that no final decision has been made on these matters.”