BP's Hayward Could Walk Away With GBP12M - Report

25th Jul 2010 23:03

DOW JONES NEWSWIRES BP PLC's (BP, BP.LN) embattled chief executive, Tony Hayward, could walk away with roughly GBP12 million ($18.5 million) in salary and pension, The Financial Times reports on its website Sunday. According to the report, Hayward will likely remain with the company for two more months, during which time BP hopes to permanently seal the leaking Gulf oil well, then he will depart. The FT said Hayward, when he leaves, will likely be owed a year's salary, which was GBP1.045 million in 2009, plus a pension accumulated during his 28 years with the company which, at the end of last year, was worth GBP10.84 million. On Sunday, BP said "Tony Hayward remains the chief executive and has the full support of the board and senior management," according to the FT. Full story at http://www.ft.com/cms/s/0/1f52cf82-97eb-11df-b218-00144feab49a.html -Dow Jones Newswires; 212-416-2800 (END) Dow Jones Newswires July 25, 2010 18:03 ET (22:03 GMT)