New BP boss Tony Hayward is aiming to get the oil group off its back foot with a backside kick. His private warning of ‘dreadful’ third-quarter profits accompanied a pledge to tear out four management layers, and consolidate into larger units. Pushed out of Russia, squeezed by rivals, tarnished by accidents in Texas and Alaska, BP is being killed by caution, he reckons. It certainly needs a shake-up. Let’s hope his aim hit’s the right spot.
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