Lukoil VP Leaves

Lukoil VP Leaves
Lukoil has revealed that Leonid Fedun has stepped down.

Lukoil has revealed that Leonid Fedun has stepped down from his role as the company’s vice president for strategic development.

Fedun left his position “due to achievement of retirement age, as well as familial reasons”, Lukoil said in a statement posted on its website this week. The company described Fedun as a “key person” in its history.

​“Leonid Fedun was a key person in the history of Lukoil, one of those who led the company to its current position of one of the largest in the world energy sector,” Vadim Vorobyov, the president of Lukoil, said in a company statement.

“He anticipated many upcoming trends in the industry, which were reflected in Lukoil’s strategic plans. On behalf of the entire Lukoil team, I would like to thank Leonid Fedun for many years of co-working and wish him all the best in his new beginnings,” Vorobyov added in the statement.

Fedun helped privatize Lukoil in the 1990s and owns a nearly 10 percent stake in the company, according to Forbes, which highlights that his real time net worth as of June 30 is $8.2 billion.

Back in April this year, Lukoil revealed that its board of directors had appointed Lukoil First Executive Vice President Vadim Vorobyov as the company’s temporary individual executive body president, following Lukoil President Vagit Alekperov’s early resignation.

Lukoil outlined at the time that the appointment is effective until its extraordinary general shareholders meeting resolves on appointing a new individual executive body.

According to its website, Lukoil is one of the largest publicly traded, vertically integrated oil and gas companies in the world and accounts for around two percent of the world’s oil production and around one percent of the proved hydrocarbon reserves. The company employs more than 100,000 people and is present in more than 30 countries, its site shows.

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