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SENIOR VICE-PRESIDENT FOR PRODUCTION NAMED THE PRESIDENT OF RUSSNEFT

08.11.2016 RNS

RussNeft Senior Vice-President for Production was appointed new President of the Company, as transpires from the materials of the Board of Directors decisions. “To elect Evgeny Viktorovich Tolochek the President of the Oil Company “RussNeft” since November 8th, 2016”, the company statement said.

Earlier it was announced that on the threshold of IPO, RussNeft would change the President, a position currently held by Oleg Gordeev. ”Early terminate the powers of President of PJSC “RussNeft” Oleg Georgievich Gordeev on November 7th, 2016”, the company reported.

As the company has previously informed, Mr. Gordeev would become the first Vice-President of “RussNeft”. “The decision of Oleg Gordeev resignation from the President post was made following consultations with the Chairman of the Board of Directors Mikhail Gutseriev. Upon mutual agreement of the parties and considering high achievements of Mr. Gordeev, he will be proposed to take over the position of the First Vice-President  and member of the Board”, said RussNeft.

Evgeny Tolochek is 41 and he used to work in such companies as Samaraneftegas, Tomskneft, Volganeft, Samarainvestneft. In 2014-2015 Tolochek served as Deputy General Director for Production in OAO NK Neftisa. In June, 2015 he was appointed Senior Vice-president for Production and Geology in RussNeft.  Chairman of the Company Mikhail Gutseriev said earlier that RussNeft was planning to sell at least 10% stake through the IPO, specifying that RussNeft would offer its own shares only, without including other assets.  He also reminded that more than 540 million tons of oil reserves are on the balance sheet of the company. The co-owner of RussNeft, trading company Glencore previously owned 46%, but, as was reported before, its share might be reduced to 25% after repayment of the debt to trader. RussNeft is going to conduct IPO at the Moscow Stock Exchange in the 4Q of 2016.

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