LONDON (Dow Jones)--Tony Hayward is expected to stand down as BP PLC (BP) chief executive in October, the Financial Times reports on its website Monday. Hayward, who has come in for intense criticism over his handling of the Gulf of Mexico oil spill, is expected to be nominated for a position on TNK-BP Holding (TNBP.RS), BP's 50-50 Russian joint venture, the reports says. BP is holding a board meeting later Monday and is expected to announce Hayward's departure and his replacement by Bob Dudley early Tuesday, when it is due to report second-quarter results. Full story: http://www.ft.com/cms/s/0/ac25bc7c-98d0-11df-9418-00144feab49a.html -London bureau, Dow Jones Newswires; +44 (0)20 78 42 9330; generaldesklondon@dowjones.com (END) Dow Jones Newswires July 26, 2010 12:39 ET (16:39 GMT)