Source Pravda.Ru

New President of Slavneft chosen

Yury Sukhanov became the President of Slavneft. Previously, he was holding the post of the Vice President of the oil company. Such decision was made at a special shareholder meeting today, a source in the company reported to RosBusinessConsulting. Mikhail Gutseriyev, who was at the head of Slavneft since January 14, 2000, resigned. A decision to hold a special shareholder meeting over the new President was made by the Board of Directors on April 8. The staff reshuffle was initiated by the State Property Ministry of the Russian Federation on the request of the government. On April 19, 2002, the Board of Directors met again and approved candidacies to replace Gutseriyev on May 13 - Alexander Baranovsky and Yury Sukhanov. Sukhanov's candidacy was proposed by the State Property Ministry in the name of the government . On April 29, the General Prosecutor's Office filed a criminal case against him. It is worth mentioning that the authorized capital of Slavneft amounts to 4,754,238 rubles (about $152,330). It consists of 4,754,238,000 shares with a par value of 0.001 rubles. 55.27% belong to the State Property Ministry, 19.68% - to the Russian Federal Property Fund and 10.8% - to the Republic of Belarus. The Tyumen oil company (TNK) holds major stakes in the most of Slavneft's subsidiaries. TNK also holds more than 10% in Slavneft. In 2001, Slavneft produced 14.9m tons of oil.

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