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Russia’s Lukoil Chief Alekperov Quits Oil Giant Job

RUSSIA: The chief executive of Russia’s oil giant Lukoil, who has called for a swift end to the Kremlin’s military campaign in Ukraine, announced Thursday that he was leaving the company he founded.

Lukoil issued a brief statement  announcing Vagit Alekperov’s resignation, but provided no reason for his decision to leave Russia’s largest oil producer.

The announcement came less than two months after Lukoil became one of the first major domestic firms to speak out against Russia’s campaign in Ukraine.

“We stand for the immediate cessation of the armed conflict and fully support its resolution through the negotiation process and through diplomatic means,” Lukoil said on March 3.

But Alekperov was still added to a list of sanctions prepared against powerful Russian business leaders by Britain, with which Lukoil has close ties.

Lukoil said Alekperov was resigning as both chief executive and chairman of the company’s board.

The company said he controlled 3.1 percent of Lukoil’s voting shares, and was the beneficiary of another 5.4 percent stake as of March 31.

“Thus, Alekperov is not a controlling shareholder of Lukoil,” the company said

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