TNK-BP Salutes New Deputy CEO

TNK-BP has approved the appointment of Maxim Barsky as Deputy Chief Executive Officer of the TNK-BP Group (Deputy Chairman of the Management Board of OAO TNK-BP Management).

Maxim Barsky is appointed Deputy CEO for the period from June 1, 2010 through December 31, 2010. On January 1, 2011 he will be appointed as CEO of the TNK-BP Group.

As part of this appointment, Maxim Barsky has been granted the authority to undertake all management decisions, with the exception of matters reserved as the competence of the Board of Directors of TNK-BP and the Management Board of TNK-BP Management.

In addition, the Deputy CEO has the authority to:

  • Represent the interests of the company in all government agencies, other organizations and enterprises;
  • Sign on behalf of the company all agreements and contracts, authorize payments and other documents;
  • Undertake all actions on behalf of the company related to representing and protecting its lawful rights and interests.

Maxim Barsky will be responsible for ensuring TNK-BP's effective performance, organizing the work of the Management Board, and implementing its decisions. In addition, he will coordinate the work of all TNK-BP staff, including Level 1 executives.

Maxim Barksy will report directly to the Chief Executive Officer of the TNK-BP Group (Chairman of the Management Board of TNK-BP Management). This position is currently held by Mikhail Fridman, who will remain in this role until December 31, 2010.

"We welcome the appointment of Maxim Barsky as Deputy CEO of TNK-BP. The Board of Directors unanimously supported his appointment. I am convinced that his management experience, knowled of gethe industry and goal-oriented approach will contribute to continued dynamic development of the company," said Executive Chairman of the TNK-BP Board of Directors Mikhail Fridman.

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