BP CEO Hayward to step down in October: Official

An official says BP CEO Tony Hayward will step down in October and take a job with TNK-BP, the company's joint venture in Russia. Hayward became the face of BP's flailing efforts to contain the Gulf of Mexico oil spill and cover millions in damages.

An official says BP CEO Tony Hayward will step down in October and take a job with TNK-BP, the company's joint venture in Russia.

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Hayward became the face of BP's flailing efforts to contain the Gulf of Mexico oil spill and cover millions in damages.

A person familiar with the matter said on condition of anonymity because an announcement has not yet been made.

Hayward's likely successor at BP is managing director Bob Dudley, an American who has been overseeing the spill response since June.