Two executives at Anglo-Russian oil joint venture TNK-BP Holding (TNBP.RS) are leaving the company, a person close to the matter said Tuesday, as management changes in the country's third-largest oil producer continue.
Tom Wright, TNK-BP's executive vice president on planning and performance management, and Steve Riddlington, the company's vice president on finance and treasury, will leave the company this month, the person said.
Both worked under TNK-BP's ex-Chief Financial Officer James Owen, who quit Aug. 4 citing a bitter struggle between shareholders, and the departure of Wright and Riddlington comes as a consequence of Owen's exit, the person said.
TNK-BP Holding is a Moscow-listed subsidiary of a 50-50 joint venture TNK-BP Ltd. between BP PLC (BP) and a group of Russian billionaires. For months they had been entangled in a fierce battle over control and management issues, before settling the dispute last month.
Under a Memorandum of Understanding signed in September, the company's BP-appointed Chief Executive Robert Dudley will leave the company by the end of the year. BP's Russian partners had accused him of ignoring their interests and running the joint venture as a BP subsidiary.