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Weekend Reading: It’s Official – BP has the Worst CEO in the World

by Darwin on June 5, 2010

After mismanaging the worst environmental disaster in American history to epic proportions, now, the embattled BP CEO Hayward is handing over responsibility for the disaster to an American so he can run the rest of the business without distractions – you know, that little distraction in the gulf?  Perhaps we can take some solace in the notion that this was a board move with the ultimate goal of letting him go at some point in the future.  But given the company’s poor decisions to override the better judgment of contractors on the rig which led to this event, to the lackluster response, to initially pointing fingers at other companies, to his absolutely moronic statements during the ordeal, I challenge you to name a sitting CEO anywhere in the world who is worse.

The Best of Tony Hayward (the Guardian UK):

“This was not our accident … This was Transocean’s rig. Their systems. Their people. Their equipment.” 4 May

“The Gulf of Mexico is a big ocean. The amount of oil and dispersant we are putting into it is tiny in relation to the total water volume.” 14 May

“No one wants this over more than I do. I would like my life back.” 30 May

“So far I’m unscathed … Sticks and stones may break my bones but words will never hurt me.” 4 June


On a lighter note, there were some great articles in money and investing this week; here are some of my favorite reads from the week and a shoutout to some of my fellow Yakezie tribe:

Some Stuff I Wrote All Over the Place Recently:

photo credit: Telegraph UK

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