New Directors Appointed

​Following the completion of the corporate reorganization, it can now be announced that changes have been made to the composition of the board of directors, with new personnel appointed accordingly to oversee the fulfillment of a long-term investment plan and infrastructure overhaul. The shareholders who have overseen this process can now place on record their thanks to the previous officeholders, and wish them well for all their future endeavors. However, there is a collectively held belief among said stakeholders that it is fundamentally necessary to undertake radical action to remodel Rusneftegaz in response to both recent financial disclosures and events that have unfolded in recent times.

Foremost, Aleksandr Filyurin has been appointed as Deputy Chief Executive Officer and Deputy Chairman of the board of directors alongside Mikhail Avdeyev, whom will take the position of Chief Financial Officer correspondingly. Following his selection, Filyurin stated:
 
“I am humbled to be joining this impressive company at such a pivotal time. I look forward to working with the other members of the board, and the rest of the leadership team, as we collectively build on the foundations that have been laid and lead Rusneftegaz into the next era of its growth. I will listen and learn from all of those who work for this esteemed organization to help meet our targets, as the challenges we face today will set us up for an even stronger future.”
 
Similarly, Avdeyev also articulated:
 
“I feel humbled, privileged and delighted to have been given the opportunity to join Rusneftegaz and lead an exceptional team as we go forward. The opportunity to use the expertise of this company to develop and enrich the lives of our existing and future end customers is particularly exciting, as well as meeting the high aspirations the company has to fulfil its strategic growth ambitions.
 
Vitaly Kalyuzhniy and Andrey Uraev have also taken up posts and will serve as members of the management board as Chief Operations Officer and Company Secretary respectively, with all other roles to be fulfilled by their current occupants. The incoming contingents have asserted their ambition for Rusneftegaz in a private meeting with shareholders earlier this morning, and will take their new positions with immediate effect. In response to his promotion, Uraev explained:
 
“I am incredibly honored to have the opportunity to continue my work with Rusneftegaz and make sure the exceptional work that has been done over the past ten years becomes a platform for greater success.”
 
Likewise, the highly experienced Kalyuzhniy also elucidated:
 
 “Rusneftegaz has consistently proven itself to be one of the most successful operators in the Russian oil industry. I am committed to furthering the international expansion of our company and using our expertise and experience to further enhance our position in the market.”

​The new appointees have been tasked with overhauling both the operational and corporate structures of our organization. This is following an undisclosed strategic review of all commercial undertakings by the shareholders that concluded late last year. Consequently, Rusneftegaz intends to revise our long-term economic plan, and now ultimately intends to focus resources on increasing production internationally, the results of which are anticipated to be made public in the months ahead. Whilst the Russian Federation has provided a strong basis for the Group's growth thus far, management and shareholders are now united in the belief that it is necessary to pivot to a more global outlook to pursue future opportunities. Whilst there may be a period of adjustment due to the announced changes, the employees, partners and affiliates of Rusneftegaz should be assured that stockholders have made the decisions set forth in this article with due consideration and in the best interests of the company. We necessitate your cooperation and understanding at this time.