Rosneft Revamps Organizational Structure

On May 25, Chairman of Rosneft Management Board Igor Sechin made a number of appointments in order to enhance the efficiency of the Company’s management structure. These administrative decisions were taken in order to raise requirements to the Company’s management for strengthening their responsibility, efficiency and professional competence.

It was decided to turn Rosneft’s retail business into separate legal entity RN-Regional-Sales which will report to the Vice President for retail business and domestic market development Avril Conroy.

Svetlana Ray will take charge of the Company’s Supply and purchasing Service which is being created. Purchase organization Department as well as material and equipment Department are being restructured: as a result three departments will be formed. Those are works and service purchase, inventory control, planning, automation and supply efficiency Departments.

Also the function of economics and planning is being centralized: this dimension will be put under control of the Vice President for Economics and Finance Svyatoslav Slavinsky.

Natalia Mincheva was appointed for the post of Vice President for Legal Support instead of Igor Maidannik.

Valery Nikitin will take charge of the Company’s IT Service instead of Anton Strokovich.

Chairman of Rosneft Management Board Igor Sechin said: “Taking into account the extent of the Company’s development, we are constantly looking forward to advance the management system in order to enhance production efficiency, transparency and openness of the Company’s business as well as getting the maximal revenues for the shareholders of Rosneft”.