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BP to revamp company after disappointing earnings
08/13/2007
BP PLC must improve its operational performance to boost its profits, said BP Chief Executive Tony Hayward, at a press conference in London to present the company’s second-quarter results.Hayward, who was appointed to the role in May, admitted that BP’s operational performance “is not good enough.” He said, “The absolute numbers are large, but on most key measures our competitive performance in the first half was disappointing.”Hayward is determined to enforce change by yearend and build on the momentum in 2008. The company has suffered delays in major projects coming on stream and outages at its US refineries, which have contributed to poor performance...
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