BP's Chairman Could Only Spare A Few Minutes
The estimated amount of time it will take for BP to clean up the Gulf of Mexico oil spill is three years or more.
Mr. Svanberg, the former CEO of the Swedish wireless company Ericsson , had to dash shortly after the call began at 2:00 p.m. in London, where he was huddled with outgoing CEO Tony Hayward, CEO-in-waiting Robert Dudley, and other members of the executive team.
Citing what a busy day it was, a meeting facilitator explained to investors and analysts that “Carl-Henric has other commitments he must fulfill” and that “unfortunately, he has to leave us now.” Mr. Svanberg had taken just four questions from callers.
Asked Tuesday for more details on what was in Mr. Svanberg’s afternoon planner, a BP spokesman said in an e-mail that Mr. Svanberg simply had “other engagements.”
Given that the company’s chairman doesn’t typically participate in earnings calls, the spokesman added, “his presence was the anomaly, not his absence.”
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