While I’m on the subject of BP. In the aftermath of the Deep Horizon blowout BP’s CEO Tony Hayward left the company, i.e. was fired, with a severance package of more than $18 million.
Among the wealthy there is some level of earnings at which it’s no longer about the money, at least not about what the money can buy. Money becomes merely a way of keeping score.
Although he’s left BP, Mr. Hayward remains a director of the Corus Group and of Tata Steel.
Actions taken on his watch cost the company of which he had stewardship an estimated $40 billion. We won’t know what the final costs are for decades.
Was Mr. Hayward a winner or a loser? What would the appropriate penalty be for what happened on his watch? None? Is losing the CEO job at BP sufficient penalty?