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BP CEO set to resign - report

Published: 3:05PM Wednesday July 21, 2010 Source: ONE News / Reuters

  • BP CEO Tony Hayward (Source: Reuters)
    BP CEO Tony Hayward - Source: Reuters

A British newspaper is reporting embattled BP CEO, Tony Hayward, is to resign his post by October.

The Times cites sources "close to BP" as saying: "Why keep utterly damaged goods on the shelf? They have to do some dramatic things to protect the company, and (Hayward's) credibility is now close to zero."

However, BP spokesman Scott Dean denies the Times' report, saying Hayward is still "very much in charge".

BP has been the subject of heavy international criticism since the April 20 explosion aboard its Deepwater Horizon oil rig that killed 11 workers and triggered a massive oil spill in the Gulf of Mexico.

US President Barack Obama has previously been quoted as saying that if Hayward worked for him, he would have fired him by now over his response to the spill, the worst environmental disaster in US history.