Exillon Looks for New Independent Directors
Russia-focused Exillon Energy reported Thursday that it has appointed an international recruitment agency to assist it in its search for new independent, non-executive directors.
Exillon board director Sergey Koshelenko commented in a company statement:
"We very much appreciate the work carried out by the former team at Exillon Energy. At the same time, we believe that we now have an opportunity to bring in new talent who can bring highly relevant and recent experience to the company and its operations.
"At a board level, we will maintain a strong system of corporate governance, and we intend to create a high-caliber board of directors with strong independent representation, to ensure effective leadership and oversight of our business, and to help strengthen further the Board's involvement in the Company's risk management systems and controls.
"We are fully committed to continuing to operate in accordance with all relevant regulations, market expectations, and general principles of good corporate governance, while at the same time ensuring we have the right operational team in place to enable us to maximize the value of our assets for the benefit of all shareholders."
Exillon is an oil producer with assets located in two oil-rich regions of Russia: Timan-Pechora and West Siberia.
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