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Share Price: 488.15
Bid: 487.80
Ask: 488.10
Change: 2.90 (0.60%)
Spread: 0.30 (0.062%)
Open: 485.25
High: 488.80
Low: 485.20
Prev. Close: 485.25
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Rosneft names new managers after former TNK-BP executives quit

Mon, 20th May 2013 15:50

MOSCOW, May 20 (Reuters) - Rosneft, thestate-owned Russian crude producer which earlier this yearbought TNK-BP, announced several senior management appointmentson Monday after former TNK-BP executives decided to leavepositions they had been offered.

The world's biggest listed crude producer, which paid $55billion in cash and stock for TNK-BP, said its former head, Eduard Khudainatov, was taking over the production departmentfrom Sergei Brezitsky, who had worked at TNK-BP until 2011 priorto being offered the job at Rosneft.

Among the other changes, Marcus Cooper, a veteran of Britishoil firm BP which ended up with almost 20 percent inRosneft after the TNK-BP deal, will head the Russian firm'strading unit, also taking over from a former TNK-BP employee.

Business daily Vedomosti said last week two former managersof TNK-BP had left Rosneft for "personal reasons", only abouttwo months after moving to new jobs, possibly due to differencesin the "corporate culture".

A Rosneft spokesman declined immediate comment on why theformer TNK-BP managers had left, while a source at the companysaid "its working schedule is tougher than at a private firm."

Rosneft is headed by Igor Sechin, a powerful andlong-standing ally of Russian President Vladimir Putin. Beforetaking over Rosneft last year, Sechin, a former militarytranslator, oversaw country's energy sector in the government.

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