BP chief Tony Hayward's fate hinges on board vote

LONDON (AP) — The board of oil giant BP faced a decision Monday on whether to keep Tony Hayward as its chief executive, although deliberations appeared to have narrowed to setting the terms for his departure.

After a series of blunders, Hayward has become the battered face of BP's efforts to contain the Gulf of Mexico oil spill and clean up the damage. He was called back to London a month ago after a bruising encounter with a Congressional committee and has since kept a low profile.

"We're getting to the end of the situation," said David Battersby at Redmayne Bentley Stockbrokers. "To draw a line under it, they need a new chief executive."

The BP board would have to approve a change in company leadership, and there is persistent speculation that chairman Karl-Henric Svanberg, who moved into the post on Jan. 1, is also likely to lose his job later this year.

News reports suggested that Hayward would be replaced by an American, Bob Dudley, who succeeded Hayward as BP's point man in dealing with the oil spill effort and was in London Monday with other board members. The Financial Times reported that Hayward was likely to remain in his post for a couple of months before handing it over.

A U.S. government official also said on condition of anonymity that Hayward was on his way out as CEO.