Hayward Leaving TNK-BP Board

Printer Friendly Version

Tony Hayward, the former chief executive officer of BP, Europe's second-largest oil company, will likely leave the board of TNK-BP, the British oil giant's joint venture with Russian oligarch investors. Hayward is expected to leave the TNK-BP board within the next few weeks, according to various press reports.

Hayward joined the board as non-executive director last year after his departure from BP following the Gulf of Mexico oil spill, but the position with TNK-BP was only seen as temporary, according to the Financial Times. Hayward is expected to attend one more TNK-BP later this month before departing.

Hayward, who started his career as a geologist, was ushered out as CEO of BP (BP) after four years at the helm of the British oil giant. BP said it had been aware of Hayward's intention to leave the TNK-BP board for some time, but that it had not received formal notification, the FT reported.

TNK-BP and BP have had what can only be described as a tumultuous relationship in 2011. While BP's efforts to do business with OAO Rosneft, Russia's largest oil company, have collapsed, the company must still battle in court with TNK-BP on a variety of issues.