English
James Owen, the CFO of the Russian - British oil company TNK-BP, has resigned following the dispute between BP Plc. and the Russian billionaire shareholders. Owen has submitted his resignation to CEO Robert Dudley and will leave the company at the end of August, according to a press release from TNK-BP. Dudley commented that Owen would be very hard to replace. TNK-BP, an equal venture of BP and AAR (the Russian billionaire consortium) has been affected by this conflict for months, with strategy and management among the main apples of discord. BP relies on the joint venture to secure nearly 25% of their oil reserves and production and has been making efforts to maintain control over it. In turn, accusations were made that BP was treating TNK-BP as its proprietary subsidiary.
CFO of TNK-BP Quits
F.A.
Ziarul BURSA #English Section / 5 august 2008
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