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Robert Dudley bows out as TNK jobs are axed
1 Dec 2008Beleaguered TNK-BP chief executive Robert Dudley finally resigned today in accordance with a shareholder agreement signed in September.
The move comes as reports in Moscow said the firm is to fire 20% of its main-office staff, many British, prior to a new chief coming in.
The swingeing cut of about 390 jobs is expected to save around £20 million in running costs. The staff will reportedly work until January and receive three months' compensation.
Several former executives of BP claimed the cuts are an excuse to eject them from the company.
Dudley, who has been running TNK-BP from an undisclosed location, is resigning as part of a deal aimed at ending a battle for control in which his role became a flashpoint.
The shortlist of possible replacements is said to include Denis Morozov, the former head of mining firm OAO Norilsk Nickel.
