The new President of “Bashneft” has found “Rosneft”

The new President of “Bashneft” has found “Rosneft”

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Andrey Shishkin, currently holds the post of Vice-President of “Rosneft” on power and localization

Photo: Pavel Lisitsyn/RIA Novosti

The new head preparing for the sale of “Bashneft” will be the Vice-President of “Rosneft” Andrei Shishkin, said the source of RBC. Alexander Korsik, head of Bashneft since 2011, is retiring early

The new President of “Bashneft” instead of the outgoing Alexander Corsica will be Andrei Shishkin, currently holds the post of Vice-President of “Rosneft” on power and localization, RBC reported a source in the “Bashneft”. A source close to Rosneft noted that Shishkin will combine the duties of the head of “Bashneft” and Vice-President of “Rosneft”.

The representative of “Bashneft” and “Rosneft” buying a controlling stake in the company, declined to comment. According to a source close to Bashneft, the Board of the company goes in full force.

“These things [change management] must be done quickly, even in the ideal companies there is a huge amount of risk associated with the period of stagnation — a change of the controlling shareholder,” said RBC close to “Rosneft” source.

Earlier Wednesday, Bashneft announcedthat on October 13 the Board of Directors will consider early termination of powers of Alexander Corsica and the appointment of a new President of the company. Is Korsik President of “Bashneft” in 2011. In March 2014, Bashneft has extended his contract until April 2017.

Question about changing the head of “Bashneft” will be decided on the new composition of shareholders, the head of Rosimuschestvo Dmitry Pristanskov reporters on the sidelines of the forum “Russia calling!” on Wednesday. “The Directive [to change the leadership of the company] at the moment, while we still are its shareholders, we do not have”, — quotes its TASS.

Andrey Shishkin works as Vice-President of “Rosneft” in 2012, from April 2015 is part of the Board. He currently oversees the company’s energy localization and innovation. Prior to joining Rosneft Shishkin from 2010 to 2012 he was Deputy Minister of energy of Russia, and before that worked in the Urals energy management company, TGC-10 Tyumen power sales company KES-Holding (at present — “T-Plus”).

Monday, October 10, Prime Minister Dmitry Medvedev signed a decree on the sale to Rosneft of state-owned controlling stake of “Bashneft” (of 50.08% of the shares). The transaction amount is 329,69 billion rubles, the payment for the package must be received before October 14, Medvedev said. The head of “Rosneft” Igor Sechin said earlier that the transaction documents can be signed at any time.