CEO of TNK-BP resigns for “personal reasons”

According to a statement by TNK-BP, the company’s CEO, Mikhail Fridman, has sent in a letter of resignation giving 30 days notice for his roles as CEO of TNK-BP and Chairman of the subsidiary, TNK-BP Management.

The statement went on to say, “After Mikhail Fridman’s resignation, TNK-BP will be managed by a group of executives who hold powers of attorney related to their areas of responsibility.

“Shareholders German Khan and Victor Vekselberg remain with the business as executive directors and members of the management board.”

A spokesman from BP said that the Fridman’s resignation would not negatively impact the company’s operations as the role of CEO had “largely been ceremonial.” The spokesman did not comment upon rumours claiming that the resignation occurred as a result of deteriorating relations between BP and AAR.

Fridman had reportedly blocked a BP tie-up with Rosneft for E&P activities in the Kara Sea. Rosneft later made the same deal with Exxonmobil.

Edited from various sources by David Bizley

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