Tag: Svanberg

Masa Serdarevic

If you’re looking for yet more examples of BP’s slowness to grasp the sheer scale of the Deepwater Horizon disaster look no further than its chairman’s stock dealings following the explosion.

A full seven days after the accident,  Carl-Henric Svanberg bought about 175,000 BP shares, according to reports in the Swedish press on Thursday. Presumably to take advantage of their fall – to £6.19 from £6.55 on April 20, the day of the explosion.

He also bought about 750,000 BP shares at £5.75 in February, a month after taking the top job at the company.

The shares have now rebounded from their crisis-lows… to, erm, £3.86.

Fortunately, according to an online biography, Mr Svanberg “was always drawn to a challenge and to doing things that seemed hard”.

So he should be really drawn to the challenge of getting BP’s share price back to pre-explosion levels.

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