This was first posted on June 1st. It’s getting re-posted due to reports that Haywood is about to go. Surprised? Read on…….
June 1st: We’re going to claim this as LatAm related, thanks to the word “Mexico” in the “Gulf of….” place that’s suffering. I’ve been exchanging mails with an old friend of mine (we go waaaaaaaaay back) this morning who happens to be an environmental activist and (if memory serves) a member of Greenpeace. His question to me was;“Do you think BP’s CEO (Tony Haywood) will resign?”
My answer was;“Yep, bet the house on it.”
He then asked;“Why?”
I said;“Check the share price.”Because in the way of the capitalist, things like the worst oil spill of all time, the enviro disaster, the brickbats thrown by treehuggers, the accusations of media cover-ups….all those things can be ignored and successfully ridden by a multinational company CEO. But a sharp fall in the PPS and you’re toast.