Chairman Carl-Henric Svanberg told Sky News Friday the oil major remains on track to carry out a June 4 plan to set up a new stand-alone unit to handle the Gulf of Mexico oil spill response operation under Bob Dudley, who currently serves as managing director for the company. BP CEO Tony Hayward announced the plan two weeks ago. Svanberg told Sky News that Hayward "is now handing over the operation to Bob Dudley" after leading the critical operation for eight weeks.
What should he do with all this new and richly deserved time? Other than work on his sets for next week's open mic night at the Laugh Factory of course. [MarketWatch]