BP has announced CEO Tony Hayward is planning to step down before October 1 and that it plans to sell $7 billion of gas assets for its Gulf of Mexico clean up fund according to The Times of London. The new strategy was conceived by a group called Future BP. Hayward’s departure is a defense against a buyout by ExxonMobil or Royal Dutch Shell. An American running BP’s Gulf Coast Restoration Organisation, Robert Dudley, is rumoured to take Hayward’s position. However, despite the report, a BP spokesperson has said that Hayward “has full support from the board and will remain in place”.