Changes to Senior Roles in TNK-BP
06 Dec 2004
TNK-BP announced changes to the structure and roles of the company's top management team. These changes took effect on November 15, 2004. Viktor Vekselberg has been appointed Executive Director Gas Development. Mr. Vekselberg will be responsible for development of TNK-BP's gas business, including commercial development, gas marketing, gas regulatory affairs, the Kovykta project, and ensuring the strategic viability of Rospan project. "Viktor's new responsibilities reflect the growing importance of gas business in the asset portfolio of TNK-BP," said Robert Dudley, President and CEO of TNK-BP. "His strategic insights and innovative thinking will help ensure our existing gas production is efficiently utilized and expanded. Viktor will also continue to have a leading role in the Kovykta project which will soon start supplying Russia's regional demand". Larry McVay has been appointed Chief Operating Officer - the job previously held by Mr. Vekselberg. Mr. McVay will lead the Technology, Upstream, Downstream, and Oil Field Services streams. Supply Chain Management and Procurement will transition to a direct reporting relationship to Larry by year-end. Since the inception of TNK-BP in 2003, Larry McVay has been acting as Deputy Chief Operating Officer. A number of other changes in the roles and reporting relationships in the top management team have also been made to further improve efficiency and governance. The new appointments optimize the company's organization and naturally fit with TNK-BP's desire to increase its participation in Russia's gas sector.
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