![]() Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the paper. The New York Times Company, which is publicly traded, has been governed by the Sulzberger family since 1896, through a dual-class share structure. The newspaper is headquartered at The New York Times Building near Times Square, Manhattan. ![]() For print, it is ranked 17th in the world by circulation and 3rd in the United States. The Times has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national " newspaper of record". Founded in 1851 as the New-York Daily Times, it is published by The New York Times Company. The Associated Press contributed to this report.The New York Times ( NYT) is a daily newspaper based in New York City with a worldwide readership reported in 2022 to comprise 740,000 paid print subscribers, and 8.6 million paid digital subscribers. This material may not be published, broadcast, rewritten, or redistributed. Markey added that new BP management and the expected permanent seal of the oil well would not end the challenge of dealing with the disaster, the consequences of which, he said, would "go on for months and potentially for years." Dudley will be more responsible, but a total change in the culture of this company is what's called for." Edward Markey, D-Mass., chairman of the House Subcommittee on Energy and the Environment, told CBS' "The Early Show" on Monday he was, "hopeful that Mr. ![]() 1, is also likely to lose his job later this year. There has been persistent speculation that chairman Karl-Henric Svanberg, who moved into the post on Jan. Edward Markey, D-Mass., told "The Early Show" on Monday. "His first concern should have been the livelihoods of the people of the Gulf of Mexico," Rep. Many Gulf residents found small comfort in Hayward's imminent departure as BP's biggest mistake under Hayward continued to foul their waters, their beaches and their way of life. "To draw a line under it, they need a new chief executive." "We're getting to the end of the situation," said David Battersby at Redmayne Bentley Stockbrokers. He was called back to London a month ago after a bruising encounter with a Congressional committee and has since kept a low profile. Hayward has become the battered face of BP's efforts to contain the Gulf of Mexico oil spill and clean up the damage. The change in leadership will not change the mammoth tasks ahead for BP, from stopping the offshore oil gusher for good, to cleaning up the millions of gallons that have already leaked, to paying billions in claims - all while defending its stock price and repairing its battered reputation. The company has also agreed to create a $20 billion fund to pay out claims arising from the disaster, which has decimated the Gulf Coast. Last week, the company said its containment and cleanup costs to date had totaled approximately $3.95 billion. lawmakers with his refusal to answer many of their questions during testimony in Washington on the spill. He spent two decades climbing the ranks at Amoco Corp., which merged with BP, and lost out to Hayward on the CEO's slot three years ago.ĭudley is viewed as more of a diplomat than Hayward, who angered U.S. It also helps that Dudley can identify with the people and the region.ĭudley spent time growing up in Hattiesburg, Miss., an easy drive from the coast. senior analyst Fadel Gheit said of the 54-year-old Dudley. "He's a very good delegator," Oppenheimer & Co. He was in London on Monday with other board members.ĭudley will be the first non-British CEO in BP's 100 year history. Analysts say the pile of public relations mistakes, along with a 40 percent drop in the company's worth, left the board no choice but to remove him.Īfter Hayward's series of missteps, Dudley, the current Managing Director, took over as BP's point man in dealing with the spill. The final gaffe: being spotted sailing off the English coast as BP's well kept gushing. First came his predictions that the impact from the oil spill would be modest then the stinging gaffe when he told television cameras he was eager for a conclusion to the catastrophe so that he could get his "life back." It was once run by Dudley.ĬBS News correspondent Kelly Cobiella says, right from the start of the Gulf disaster, Hayward couldn't seem to get it right. ![]() BP owns half of the oil firm, which is Russia's third-largest. Hayward is to take a job with the company's joint venture in Russia, TNK-BP. The cost figures were released along with BP's quarterly earnings report - a record loss of $17 billion for the second quarter.
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