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A decision on how Tony Haywood, who has worked for BP for 26 years, will leave the firm is expected this afternoon or early tomorrow.

Mr Haywood has been heavily criticised over his handling of the Gulf of Mexico oil spill saying ‘I want my life back’ following the accident which killed 11 people and has devastated the region’s economy.

Last Friday betting firm Paddy Power paid out bets for Mr Hayward stepping down.

More than 500 bets were placed with Paddy Power on Hayward not to be CEO of BP on December 31, 2010 forcing his odds down from 2/1 to 1/5.

Ahead of the meeting in central London today a BP spokesman said ‘no decision had been made’.

Luke Walsh

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