CHAIRMAN EXITS

Tony Hayward, the former boss of BP, will step down as chairman of Genel Energy next year, according to reports.

Hayward founded the energy group in 2011, and it became the biggest oil and gas producer in Iraqi Kurdistan under his stewardship.

The 59-year-old, whose tenure at BP ended after the 2010 Deepwater Horizon Gulf of Mexico spill, is understood to be planning an exit in the second half of next year.