BP PLC (BP) Chief Executive Bob Dudley has been named as a candidate for the board of directors of oil giant Rosneft (ROSN.RS) by the Russian government, and will vote on major company issues according to government directives if the nomination is confirmed by shareholders later in the year, a government spokeswoman said Monday.
BP PLC (BP) Chief Executive Bob Dudley has been named as a candidate for
the board of directors of oil giant Rosneft (ROSN.RS) by the Russian
government, and will vote on major company issues according to government
directives if the nomination is confirmed by shareholders later in the year, a
government spokeswoman said Monday.
BP will have a near-20% share in Rosneft when the state-controlled company
completes its takeover of TNK-BP from the
U.K.
major
and its partners in the first half of this year.
As part of the deal, BP will receive two seats out of nine on the board. It
currently holds a stake of less than 2% and so could not nominate board members
by the deadline of March 1.
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