Rosneft board to approve management change, discuss securities issue April 24
MOSCOW. April 24 (Interfax) - The board of directors of Russian oil major Rosneft will consider the early dismissal of a member of the company's management board at a meeting on Tuesday, the state-controlled company said in a statement.
A Rosneft spokesman told Interfax that this issue would be considered because of the departure of former senior vice president Pavel Fyodorov, who was appointed Deputy Energy Minister at the end of March. His responsibilities are being shared by other members of Rosneft's management board.
The board will also consider the placement of securities and interested-party transactions, including in the amount of more than $500 million.
The company did not specify what securities or deals this referred to. However, a source close to Rosneft told Interfax that the board would discuss a mechanism for bolstering the budget that the company might not resort to.
The third issue on the agenda is unilateral transaction by Rosneft worth the equivalent of $25 million or more.