Status: 04/21/2022 15:00
Vagit Alekperov, head of Russia’s second-largest oil company, Lukoil, has resigned. The reasons for the 71-year-old’s decision were initially unknown.
The head of the second largest Russian oil company Lukoil, Vagit Alekperov, has resigned. The group published today a small message with the information about the personnel. After that, Alekperov also left the supervisory board of the company he founded. The group did not give a reason for the dismissal, and a possible successor to the 71-year-old was not initially named.
Alekperov’s oil company, which he founded in 1993, is not state-owned, unlike other major Russian energy companies such as Rosneft and Gazprom. In early March, the company had called for an immediate end to the military operation in Ukraine. “We are committed to an immediate end to the armed conflict and fully support its resolution through the negotiation process and diplomatic means,” he said in a March 3 statement.
Sanctions may be grounds for withdrawal
According to the business magazine Forbes, Alekperov is the 10th richest person in Russia, with assets of around $10.5 billion. About a week ago, Britain put the businessman on a sanctions list. It is speculated that this could be a reason for his withdrawal: several other Russian businessmen, including billionaire Vladimir Yevtushenkov, have already left management positions or given up control of their companies after sanctions.
Four years ago, the oligarch publicly considered who could replace him if he left the group. At the time, he simply said, “It won’t be any of my close relatives.”
Until now, Aekperow held 3.12% of the London Stock Exchange-listed group with voting rights and a further 5.43% of the non-voting shares. This means that the billionaire is not the oil company’s majority shareholder.