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SIBUR and TAIF announced changes in the Management Board

October 22/2021

MOSCOW (MRC) -- On 15 October 2021, a meeting of SIBUR's Board of Directors elected new members to the Management Board of PJSC SIBUR Holding, expanding it to nine people, said the company.

So, Alexey Kozlov and Alexander Petrov dropped out, five new people entered, four of whom were representatives of the top management of SIBUR and General Director of TAIF JSC Ruslan Shigabutdinov.

The composition of the board of SIBUR LLC has grown from 16 to 17 people, it includes two Tatarstan citizens - Deputy General Director - Commercial Director of PJSC Nizhnekamskneftekhim Timur Shigabutdinov and Deputy Director of TAIF JSC for Energy and Information Technologies Ruslan Gizzatullin.

Also, the composition of the board of directors of TAIF PSC has changed. He grew from 10 to 12 people. Rustem Sulteev, Radik Shaimiev, Vladimir Presnyakov, Guzelia Safina, Alexander Fridman, Olga Ignatovskaya, Timur Shigabutdinov dropped out of the council. Their places were taken by the chairman of the board of SIBUR Holding, Dmitry Konov, the chairman of the board of SIBUR, Mikhail Karisalov, and other top managers of SIBUR.

Three representatives of TAIF remain on the council: Albert and Ruslan Shigabutdinovs and Timur Sulteev.

Earlier it was reported that in early October the merger of SIBUR Holding PJSC and TAIF JSC was completed. SIBUR received 100% of TAIF shares, and the shareholders of the Tatarstan company received 15% of SIBUR Holding shares, plus remuneration in the form of company bonds worth USD3 billion. The merged SIBUR company included Kazanorgsintez, Nizhnekamskneftekhim and TGK-16.

It was also noted that the European Commission approved the deal on 1 October.

TAIF JSC is the parent company of the largest non-public group in the Russian Federation. The group's netted revenue over the past 12 months amounted to more than RUB 720 billion. TAIF plans to enter the production of commercial products in the amount of more than 1.7 trillion rubles by 2035. per year, for this planned investment of 1.8 trillion rubles. for the next 15 years.

SIBUR manufactures and sells petrochemical products on the Russian and international markets in two business segments: olefins and polyolefins (polypropylene, polyethylene, BOPP, etc.), as well as plastics, elastomers and intermediate products (synthetic rubbers, expanded polystyrene, PET, etc.).
Author:Anna Larionova
Tags:petroleum products, PP, PE, neftegaz, petrochemistry, Taif, Kazan, Kazanorgsintez, Nizhnekamskneftekhim, Sibur Holding.
Category:General News
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