23 May 2018 13:43
Exillon Energy plc
Appointment of new CEO
23 May 2018 - Exillon Energy plc ("Exillon Energy", the "Company" or the "Group") (EXI.LN), a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), announces that the Board of Directors has appointed Viacheslav Nekrasov as a new director and CEO of the Company at today's meeting.
The new CEO was recommended to the Company's Board by Seneal International Agency Ltd, which has held a 29.99% interest in the Company's share capital since December 2013 and is ultimately controlled by Alexei Khotin.
The Board has carefully considered Mr. Nekrasov's substantial experience in corporate finance and investment, including in the oil & gas sector, and unanimously approved the appointment.
The Board also approved the resignation of the current CEO and director, Dmitry Margelov, who is stepping down in order to pursue other business interests. The Board noted that Mr. Margelov demonstrated a substantial time commitment in his role as Chief Executive Officer and director of the Company, whilst successfully guiding the Company through a difficult trading period as a result of prevailing market conditions, and expressed its gratitude and commended Mr. Margelov's considerable efforts in leading the Company over the course of his appointment.
The changes will take effect from 31 May 2018.
Biographical information:
Viacheslav Nekrasov
Mr. Nekrasov has more than 20 years of experience in corporate finance and investment. Before joining Exillon Energy plc as CEO he served as Project Finance Director of JSC Kompleksnye Investitsii and was responsible for organising and managing debt and project finance transactions in the oil & gas and real estate sectors. Prior to this, Mr. Nekrasov held the following positions: CEO of Agency Plus LLC, Head of Investment Development Projects of ESN Group, Deputy CEO of FinanceConsult.
Mr. Nekrasov has a degree in Economics and Company Management from the Higher School of Economics, National Research University.
Media contacts:
Sergii Pershyn, EM
pershyn@em-comms.com
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