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BP shareholders call for Svanberg’s head: report

Paul O'Mahony · 3 Jul 2010, 10:12

Published: 03 Jul 2010 10:12 GMT+02:00

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Citing sources close to the group, the newspaper said Svanberg had provoked “very mixed” reactions at meetings held last week.

“Mr Svanberg does not command the total support of shareholders. There are a lot of shareholders who would be happier to see Mr Svanberg go first,” said one investor.

Leading shareholders castigated Svanberg for displaying a lack of leadership

throughout the crisis and for failing to give his full backing to chief executive Tony Hayward. While Hayward enjoys more support among top shareholders, he too is likely to be replaced once the worst of the crisis has subsided, the newspaper reports.

Svanberg made international headlines in mid-June after comments in a White House press conference were interpreted as patronizing towards the people immediately affected by the catastrophe.

"We care about the small people. I hear comments sometimes that large oil companies are greedy companies who don't care, but that is not the case with BP, we care about the small people," Svanberg said at the time.

The comments were cited all over the US media as indication of a patronizing attitude towards all of the small business owners and fisherman whose livelihoods were hit by the Mexican Gulf oil spill.

Story continues below…

BP was later keen to stress that English was not Svanberg's first language and that the true meaning of his choice of words had been lost in the translation. The Swede later apologised for the use of the phrase which he conceded was clumsy.

Paul O'Mahony (paul.omahony@thelocal.com)

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Your comments about this article

12:25 July 3, 2010 by McChatter
"...as soon as the leaking oil well..is capped.."

So that means he can stay on until he retires?
16:54 July 3, 2010 by wenddiver
Small People, Serfs, Subjects, Peasants, Proliteriat, Vassal,Colonials, Slave, are terms you might want to throw out of of your vocabulary when addressing Americans. Since 1775, when we suddenly started caliing ourselves Minutemen, these terms have inspired another American cultural icon, the large well armed mob of angry citizens and resulting violence.

By the way isn't this an EU company???? Why are the member states not being billed for some of this??????
17:03 July 3, 2010 by 2394040

I believe you have hit the nail right on the head.

"as soon as the leaking oil well is capped"

That doesn't appear to be a possibility with current technology.
17:36 July 3, 2010 by rufus.t.firefly
@McChatter & 2394040

In as much as the continuing unchecked volcano is his log-term employment plan, it is his (and others') staggering incompetence, then, keeping him "employed". The irony never ends, just like the "leak".
05:03 July 4, 2010 by jackx123
The poor fella started a few months before s**t hit the fan and could possibly have nothing to do with it.

However, he wouldn't give a rats azz since he would be paid out in full if sacked. He would probably like it better that way, since he gets his money without the headache.

Ula/Gyda in Norway was a ticking time bomb in the 90's and God knows why nothing happened to the fields.
05:22 July 4, 2010 by Frobobbles
He made the hole all by himself, with his own little hands.
07:29 July 6, 2010 by randyt
So "The poor fella started a few months" you say! This guy is no "poor fella" at all. What amazes me is the total ignorance these over paid buffoons show in regard to their own business, makes on think all that brown stuff aroud their noses is not curde.

The conservative, FOXnews-ites are now passing aound by email the BP press line as "great reports." The drill-baby-drillers won't even admit they are wrong in trusting any of these oil companies.
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