A statement issued by BP said a board meeting was being held on Monday and “no final decision has been made”.
However, it seems certain that Hayward, a BP veteran of 28 years, will stand down.
Hayward will probably be replaced by Bob Dudley, who took over most of the daily operations on the Gulf Coast last month. Dudley hails from Mississippi and, says BP, has a “deep appreciation and affinity for the Gulf Coast”.
BP’s accounts will also be discussed today and are expected to be the worst quarterly loss for a UK firm, with cover spill compensation and costs of up to £19bn.
Meanwhile, Hayward won’t be looking at a penniless retirement. It’s been reported that his pension could be as much as £10.8m.
Since the oil spill disaster, Hayward has been vilified by the US media. “BP’s CEO Tony Hayward: The most hated – and most clueless – man in America,” said The New York Daily News headline.