Russia » Economics

American CEO of YUKOS company to get rid of shareholders

Former YUKOS CEO Vasily Shakhnovsky released in the beginning of February, will not work for the company any longer, said YUKOS Board Chairman Semen Kukes at the press-conference in New Yourk Council on International Relations.
”We do not want the key shareholders in the company’s management. This is our fundamental position.  Shareholders should not contribute to the company operation”, said Mr. Kukes.
The Board Chairman informed public that the decision has been made to dismiss Mikhail Brudno (last shareholder having the functions of manager) from the post of YUKOS RM Company President in charge of the company products processing and sales.
 Mr. Brudno has been on the international wanted list along with the other key shareholders of YUKOS – Leonid Nevzlin and Vladimir Dubov.
 In this way YUKOS is demonstrating his willingness for dialog with the authorities. Mr. Kukes said that he hopes the situation related to YUKOS would be settled soon, maybe it would take several months, reports.
 “We are in dialog with the state institutions about the issue of debt and minimizing tax payments. They laid they claims to us, we are producing our arguments. It is important that the dialog continues”, cites these words of Kukes.
On February 5 Meshansky District court of Moscow sentenced former Head of YUKOS-Moscow company Shakhnovsky to one year of imprisonment, but then Shakhnovsky was released because “the situation has changed”. The court recognized Shakhnovsky guilty of evading paying taxes and fees total at 28.5 million roubles (about $1 million). “However, taking into account the changes in the situation and some mitigating circumstances, the court is releasing Shakhnovsky”, said judge Irina Kolesnikova.  

Source:, information agencies