RE: Buckee retiresDoesn't sound so good when you read the 'TIMES' article:
"John Manzoni, BP’s chief executive of refining and marketing at the time of
the fatal Texas City refinery blast, is to leave the company.
His departure follows the first boardroom reshuffle under Tony Hayward, the
oil giant’s new chief executive. Mr Manzoni will conclude a 24-yearcareer
at the group at the end of August and take charge of Talisman Energy, a
Canadian oil explorer.
Iain Conn, an executive director responsible for safety and operations, IT and
marketing at BP, will take over the refining and marketing role tomorrow. Mr
Manzoni will stay with BP for a three-month “handover” period and leave with
a potential package of as much as £5.8 million in pay and long-term share
awards. He also has £3 million in pension provisions.
Mr Manzoni has come under intense pressure this year after a series of damning
reports into the Texas City blast, which killed 15 workers and injured 170
others in March 2005. It emerged this month that an internal BP
investigation found that the 47-year-old executive failed to heed “serious
warning signals” before the explosion.
BP said that Mr Manzoni’s departure was by mutual consent and that it did not
hold him responsible for the Texas City disaster. Peter Sutherland, the
chairman, said: “John Manzoni has shown the most immense commitment and
dedication to the company.”
However, Brent Coon, an American lawyer acting on behalf of dozens of workers
injured in the blast, said: “He should have accepted personal responsibility
and resigned two years ago. I’m surprised it’s taken this long.”
BP insiders suggested that Mr Manzoni had always been expected to leave after
losing out to Tony Hayward in the battle to replace Lord Browne of Madingley
as chief executive. Mr Hayward was promoted after Lord Browne resigned this
month.
In a statement released by Talisman, which made profits of £940 million last
year, against BP’s £12 billion, Mr Manzoni said: “I am delighted to join
Talisman, a company I’ve known and respected for many years.” He made no
comment about BP.
Talisman was created by Jim Buckee, an industry veteran who formed the group
around the Canadian interests that he bought from BP in 1992. It is one of the most active explorers in the North Sea."
https://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article1862670.ece