Medvedev picks Khudainatov to head Rosneft

4th September 2010, Comments 0 comments

Russian President Dmitry Medvedev on Saturday selected Eduard Khudainatov, currently first vice president of Rosneft, as the new president and chief executive of the state-owned oil group.

"Dmitry Medvedev met with Rosneft First Vice President Eduard Khudainatov. At the end of the meeting he ordered the government to submit his candidature as the president of Rosneft," the Kremlin said in a statement.

The president and chief executive of Rosneft, which is seventy-five percent owned by the Russian state, is appointed by the company's board of directors.

Vice Prime Minister Igor Sechin, a close ally of Prime Minister Vladimir Putin, is the chairman of Rosneft's board of directors.

The contract of Rosneft's current president and CEO, Sergei Bogdanchikov, expired at the end of June, and the Russian business newspaper RBC Daily reported at the end of last month that Medvedev might name him to replace Sergei Shmatko as energy minister.

© 2010 AFP

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