BP chief Tony Hayward sold shares weeks before oil spill
--The chief executive of BP sold £1.4 million of his shares in the fuel giant weeks before the Gulf of Mexico oil spill gusher caused its value to collapse. 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 family’s 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 BP’s share price plunged after the oil spill began six weeks ago.
http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/78...
http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/78...
Replies to This Discussion
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Permalink Reply by Metalchemist on
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Coincidence?
I would think NOT.
Conspiracy? -
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