28 Sep 2010 17:57

Bashneft strips two directors of authority

MOSCOW. Sept 28 (Interfax) - The board of directors at Bashneft have decided to end the authority of management members Minnezinfir Gayazov and Valentin Zubov, the company said.

The company told Interfax that Gayazov, who was the company's vice president for safety, was relieved of his authority in line of the fact that he will no longer be working at Bashneft.

Zubov's authority was ended due to his appointment to the post of director for the internal oversight and audit as senior auditor. Holding this post while at the same time being a director would run counter to the principles of collegiality adopted by the company.

As to plans for replacing the two men, the company said the board confirms changes to management. Bashneft reported after Q2 having fifteen people on its management team.