Hayward’s new role
BP will assign Hayward to a key job in Russia, a person familiar with the matter said Monday. Hayward is set to step down in October and take a post at TNK-BP, the company’s joint venture in Russia, according to the person, who spoke on condition of anonymity because the British company’s board had not made an official announcement.
It’s not clear what Hayward’s role will be with TNK-BP, but the job suggests BP still holds more faith in Hayward than most. Analysts consider the Russian venture one of BP’s crown jewels; it accounts for a quarter of the company’s production and is Russia’s third-largest oil firm. Moving Hayward gives insiders who thought he was scapegoated for his remarks — rather than his performance — a chance to keep a highly trained professional in the company.