Hayward To Leave TNK-BP Board - Report
11 September 2011 - 12:50PM
Dow Jones News
Former chief executive of British Petroleum Tony Hayward is to
leave the board of TNK-BP following the announcement that his
investment vehicle Vallares PLC will merge with Turkey's Genel
Energy International Ltd, The Sunday Telegraph reported, citing
unnamed sources close to Hayward.
Hayward is expected to inform BP of his decision in coming
weeks, the newspaper said. Hayward feels that he no longer has the
time to devote to TNK-BP, The Sunday Telegraph cited sources close
to Hayward as saying.
BP co-owns TNK-BP with AAR, a holding company fun by four
Russian oligarchs led by Mikhail Fridman.
Newspaper: www.telegraph.co.uk
-London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320
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