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BP chief Tony Hayward sold shares weeks before oil spill [View All]

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highplainsdem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-04-10 08:28 PM
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BP chief Tony Hayward sold shares weeks before oil spill
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Source: The Telegraph

BP chief Tony Hayward sold shares weeks before oil spill

By Jon Swaine and Robert Winnett
Published: 12:10AM BST 05 Jun 2010


Tony Hayward cashed in about a third of his holding in the company one month before a well on the Deepwater Horizon rig burst, causing an environmental disaster.

Mr Hayward, whose pay package is 4 million a year, then paid off the mortgage on his familys mansion in Kent, which is estimated to be valued at more than 1.2 million.

There is no suggestion that he acted improperly or had prior knowledge that the company was to face the biggest setback in its history.

His decision, however, means he avoided losing more than 423,000 when BPs share price plunged after the oil spill began six weeks ago.

-snip-

Read more: http://www.telegraph.co.uk/finance/newsbysector/energy/...
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