President of Russian oil firm Lukoil resigns

By Ebru Sengul Cevrioglu

ANKARA (AA) - Russia's largest private oil company Lukoil announced the resignation of its president and board member Vagit Alekperov on Thursday.

"PJSC LUKOIL announces that the Company’s President and member of the Board of Directors Vagit Alekperov informed the Company about his decision to resign as a member of the Board of Directors of PJSC LUKOIL and early resign as President of PJSC LUKOIL," the statement read.

The company confirmed that the respective resignation notices were sent to the chairman on Thursday.

As of March 31, Alekperov owns 3.12% of the voting shares in PJSC LUKOIL, and as a beneficiary through family trusts or mutual funds, has 5.43% of non-voting shares in PJSC LUKOIL, meaning he is not a controlling shareholder.