Former BP CEO Tony Hayward retires as Genel chairman

Tony Hayward, former CEO of the oil major BP, is leaving his chairman position at Genel, an independent oil and gas exploration and production company.

Genel said on Monday that Hayward would retire as a director and chairman of the company at the conclusion of the 2017 annual general meeting which will be held on June 6, 2017.

The company has named Stephen Whyte as his replacement. Whyte will take up the role of chairman after the AGM.

Tony Hayward was appointed as the executive director and CEO of Genel in 2011. He then stepped down as Genel CEO and was appointed chairman in 2015. The CEO position was afterwards taken up by Murat Özgül.

Before Genel Energy, Hayward was the CEO of BP. He left following the notorious Deepwater Horizon disaster in the Gulf of Mexico in 2010 which killed 11 people. He was replaced by Bob Dudley.

Commenting on Hayward’s departure from Genel, Özgül, the Genel CEO, said: “It has been a great pleasure to have worked with Tony during his time at Genel. When we first started working together, the oil industry in the Kurdistan region of Iraq was still in its infancy, without an export pipeline and there was a high degree of uncertainty over export sales.

“Kurdistan now has a fully operational pipeline infrastructure exporting up to 600,000 bopd, and Taq Taq and Tawke have a proven track record of international sales and significant cash generation. Everyone at Genel wishes Tony all the best in his future activities.”

Stephen Whyte, chairman designate, added: “Genel has operated in a very tough environment in recent years, but I believe the company has renewed momentum and significant opportunities in the portfolio.

“As the environment now improves, I look forward to working with the board to ensure that Genel has the best possible strategy for the future.”

Genel has producing assets in the Kurdistan Region of Iraq, and exploration assets in Somaliland, and Morocco.

Offshore Energy Today Staff