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Fridman quits TNK-BP

May 29/2012

(upstreamonline) -- Mikhail Fridman has resigned as chief executive of BP's joint venture operation in Russia, TNK-BP.
The billionaire native of Ukraine handed in his notice as both chairman and CEO of the company on Monday, a brief statement from TNK-BP read.

Fridman is to step aside from both roles in 30 days, it added.

"After Mikhail Fridmans resignation, TNK-BP will be managed by a group of executives who hold powers of attorney related to their areas of responsibility.

"Alfa Access Renova shareholders German Khan and Victor Vekselberg remain with the business as executive directors and members of the management board."

Fridman played a key role in blocking BP's monster proposed tie-up with Rosneft for exploration and production activities in the Kara Sea. Rosneft later penned a huge deal with ExxonMobil instead.

Forbes magazine recently named 48-year-old Fridman as the world's 57th richest person with a net worth of USD13.4 billion.

Apart from his oil and gas assets, Fridman has a large stake in the banking and telecommunications industries with his Alfa group, held together with others, the country's largest financial and industrial group.
Author:Anna Larionova
Tags:oil, neftehimiya, TNK-VR Snabzhenie.
Category:General News
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