Posted By RichC on June 15, 2010
BP’s CEO Tony Hayward can’t win for losing … no matter how he handles the aftermath of the oil spill (particularly since the oil is still spewing). Like it or not, Mr. Hayward is the face of the spill and the face of BP. He will continue to rightly shoulder the blame, the frustration and the anger of those his company harmed.
BP took questionable shortcuts which lead to the oil rig accident and the fault is squarely on those “hired” to manage the company … starting with the CEO. I’d love to point fingers at the bureaucrats that are charged with oversight, but frankly the fingers need to be pointed at the company, its decision-makers and shareholders who caused the disaster. I’m not an advocate to run BP bankrupt or boycott their product as doing so would mean another taxpayer bailout of the Gulf Coast … but BP dollars/pounds needs to take care of those it harms before paying dividends to the company owners (shareholders). Besides the disaster and deaths associated with the rig explosion, BP and its management deserve the blame for lax follow up and damage to the environment and the people of the Gulf Coast – the Obama administration hasn’t been stellar in this regard either.
So, voluntarily do the right thing BP and accept the criticism no matter how heavy handed it seems … and take care of your mess before any hefty salaries, bonuses or dividends are paid (see Bloomberg/Businessweek).