Hayward likely to take charge of BP’s Russian joint venture with TNK

LONDON - BP chief executive Tony Hayward, whose resignation is expected any moment before the stock market opens today, is rumoured to have been offered a board role within British Petroleum’s Russian joint venture with TNK.

According to Sky News, the firm, however, has declined to comment on the reported offer of a Russian role for Hayward so far.

“No final decision had been taken on his future but it is thought the embattled chief executive’s fate was sealed at Monday night’s board meeting,” it said.

Mark Kleinman, the business editor of Sky News has said that his departure will likely be confirmed alongside publication of BP’s quarterly results.

“The role on the TNK-BP board is not about keeping Hayward sweet. Much more importantly, if it is confirmed as I expect in the next 12 hours or so, it would underline the streak of real politik that courses through the veins of all multi-national companies,” he said.

The terms of his departure including one million pound-a-year are not yet confirmed but he is expected to leave with a pension pot worth 10.8 million pounds. Sky News reports. (ANI)