Natural Gas News

Sovcomflot CEO to Switch to Chairman

Sergei Frank will step down as president and chief executive of Russian state-controlled shipping giant Sovcomflot after 15 years at the helm, four sources familiar with the decision told Reuters on Tuesday.Frank will give up operational control of Sovcomflot and take over as chairman of the company's board, two of the sources said.It was not immediately clear why Frank, 59, was moving position. A Sovcomflot spokesman referred requests for comment to the company's controlling shareholder, the government.A government spokesman said the state would issue information on a new board of directors