BP replaces CEO Hayward, reports $17 billion loss

Robert Dudley, executive vice president for the Americas and Asia for British Petroleum, speaks during a luncheon at the Boston College's Chief Executives' Club of Boston Thursday, May 6, 2010, in Boston. (AP Photo/Steven Senne)

July 27, 2010 8:52:33 AM PDT
American Robert Dudley will become BP PLC's first ever non-British chief executive, the company said Tuesday as it reported a record quarterly loss and set aside $32.2 billion to cover costs of the devastating Gulf of Mexico oil spill.