BP board to rule on fate of CEO Hayward at meeting Monday

LONDON (MarketWatch) -- BP Plc said Monday it will debate the fate of embattled Chief Executive Tony Hayward at a board meeting this evening but stressed that no final decision has been made.

The statement follows media reports this weekend that Hayward has agreed to step down and will be replaced by Robert Dudley, the American heading the company's cleanup efforts in the Gulf of Mexico in the wake of the worst oil spill in U.S. history.

"BP notes the speculation over the weekend regarding potential changes to management and the charge for the costs of the Gulf of Mexico oil spill. BP confirms that no final decision has been made on these matters," the firm said.