BP announced today that they will be replacing CEO Tony Hayward with Robert Dudley, a U. Illinois alumnus.

Raised in Hattiesburg, Mississippi, Dudley—now 54—went on to pursue a degree in Chemical Engineering at UI, according to a BP press release. A U. Illinois Alumni Association representative said that he received his bachelor’s of science degree from the Champaign-Urbana campus in January of 1978. He went on to receive a master’s degree in International Management at the Thunderbird School of Global Management in Glendale, Arizona, according to the press release. The University of Illinois Foundation chose not to comment on whether or not Dudley has donated to the University since his departure from the school.

Because of a taxing experience with the Gulf of Mexico oil spill for Americans and BP alike, the board of directors agreed it would be best for the company to start off fresh with a new leader, who will take charge in October, according to the press release. Since Dudley has spent many years in BP’s particular scope of expertise, the company said that he is a good match for the position.

“We are highly fortunate to have a successor of the calibre of Bob Dudley who has spent his working life in the oil industry both in the US and overseas and has proved himself a robust operator in the toughest circumstances,” said Carl-Henric Svanberg, chairman of BP, in the press release.

Prior to this appointment, Dudley served as an U.S.-based executive director for BP. As he hands down his position to Lamar McKay, chairman and president of BP America, Dudley has high hopes for the future.

“I do not underestimate the nature of the task ahead, but the company is financially robust with an enviable portfolio of assets and professional teams that are among the best in the industry. I believe this combination – allied to clear, strategic direction – will put BP on the road to recovery,” Dudley said in the press release.