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The Russian Oil Company “Lukoil” plans to carry out a series of reforms in the company’s charter and decline the post of president, reports RBK website referring the “Lukoil” statement.
On December 5, 2022, the company will hold a meeting of shareholders, during which planned changes will be approved. Within the framework of reformation of governance structure of “Lukoil”, the collegial executive body (the company's management board) will be abolished and replaced by a sole executive body.
Moreover, it is planned to abolish the title of president of the company and rename it into the “chief executive director”, that will more correspond to his activities. In the spring of this year, Lukoil shareholders prematurely terminated the powers of the company's president Vagit Alekperov, who had headed it for 30 years. Currently, Vadim Vorobyov is acting as the director of “Lukoil”.