Is BP's (BP) Tony Hayward a 'Dead Man Walking'

Amid the crisis facing BP PLC (NYSE: BP), the company's chief executive officer Tony Hayward may be seeking to save his job as well as restoring some sense of normalcy to the London-based oil company, according to a report from the Financial Times.

The report stated that Hayward may be on the way out, or at least that is the feeling of some strategists watching the situation within BP, as the CEO spoke in front of a U.S. Congressional panel on Thursday.

"Tony Hayward's body language as he walked behind his chairman as seen in the newsreels was quite remarkable," Howard Wheeldon, senior strategist at BGC Partners, the inter-broker, said. "It was as if the chief executive might have said, had he had the chance, that he was absolutely terrified and felt completely out of his depth. I find myself in the very unusual situation suggesting that the days of both men as members of the BP board will probably be short-lived."

Citing two sources that were unnamed and unidentified as to their relationship to the situation, the Financial Times said that BP Chairman Carl-Henric Svanberg, who is far from secure in his own job, is looking into candidates to replace Hayward.

The report noted possible candidates include Bob Dudley, the company's managing director overseeing the America and Asia, and Iain Conn, the head of BP’s refining and market business.

The U.S. government has pushed on BP and has reached an agreement with the oil company to have it set aside $20 billion to pay for the damages to the ecosystem in the Gulf of Mexico and the lost financial property of those inhabiting the region.

"This process may be seen as a necessity if BP is to have a long-term future in the US, and it should give BP a starting base for re-establishing its relationships with key US administrators and with the US population,"
analysts at Collins Stewart said on Thursday.

To pay for the fund, BP has suspended its quarterly dividend payments, which has caused anger among the company’s shareholders.

Shares of BP are 52 cents to $32.23 in early market movement Friday.

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