Alekperov standing down as Lukoil chief following sanctions

MOSCOW. April 21 (Interfax) - Lukoil President Vagit Alekperov has informed the oil company of his decision to resign as a member of the board of directors and resign early company president, Lukoil said in a statement.

The respective notices of resignation were sent on Thursday to the chairman of the company's board of directors.

Alekperov owned and voted with 3.12% of shares in Lukoil as of March 31, 2022. He is also a beneficiary, including through family trusts or mutual funds, of 5.43% of shares, in respect of which he has no voting rights. Therefore, Alekperov is not a controlling shareholder of Lukoil.

Alekperov founded Lukoil, which as registered as a joint-stock company in 1993, when he headed the company in the capacity of president.

The UK included Alekperov in its sanctions list on April 13. Australia had already sanctioned him.

According to the company's latest Eurobond prospectus, Alekperov was, as of September 30, 2021, the indirect or indirect owner or beneficiary, including via family trusts and mutual funds, of 28.33% of Lukoil's share capital.