MARKET TALK: Management Changes At BP Were "Unavoidable"

26th Jul 2010 09:52

0852 GMT [Dow Jones] The scale of the disaster in the Gulf of Mexico has always indicated that significant management changes at BP (BP) were unavoidable, says Westhouse Securities. "We now expect Tony Hayward's tenure at the group to continue for very limited time," it adds. For now, BP is only saying that at present Hayward has the full backing of the board - although this could change at the board meeting later Monday, says Panmure Gordon. "This would be bad news for BP given that Tony Hayward was doing a good job that was only marred by the tragedy in the Gulf of Mexico," Panmure says. The market now awaits BP's 2Q earnings, due July 27, for further details. BP shares +1.7% at 405p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 26, 2010 04:52 ET (08:52 GMT)