Former BP CEO Tony Hayward, who was forced to leave his post with the British oil giant for his mishandling of the Gulf of Mexico oil spill, is reportedly in talks with British commodities firm Glencore about a board seat with that company. Glencore is considering selling shares to the public this year and needs to reshuffle its board ahead of that event.
BP (BP), Europe's second-largest oil company, replaced Hayward with Bob Dudley in September, making Dudley the first American to run BP. Glencore has not commented on talks with Hayward. When Hayward left BP, the company said he would take a non-executive post with TNK-BP, the company's joint venture with Russian investors.
A source close to the situation said that if Glencore listed, it would have to appoint a new board, including a new chairman, to comply with corporate governance standards, but the source declined to comment on possible names, Reuters reported.
Hayward has been rumored to be in talks with Temasek, Singapore's sovereign wealth fund, about a role with that company.