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20.07.2010 Appointment of Executives

Appointment of Executives  


The Board of Directors of OAO LUKOIL held a meeting today in Moscow to resolve a number of issues related to corporate governance.
Among other things, the following members of the Management Committee were approved:

Share in the charter capital of OAO LUKOIL, %
(direct holding)*
1.Vagit AlekperovPresident, Chairman of the Management Committee1.878
2.Anatoly BarkovVice-President, Head of the Main Division of General Affairs, Corporate Security and Communications0.066
3.Vadim VorobyovVice-President, Head of the Main Division of Coordination of Petroleum Product Marketing and Distribution0.006
4.Sergei KukuraFirst Vice-President0.386
5.Ravil MaganovFirst Executive Vice-President0.368
6.Ivan MaslyaevHead of the Main Division of Legal Support0.022
7.Alexander MatytsynVice-President, Head of the Main Division of Treasury and Corporate Financing0.297
8.Anatoly MoskalenkoHead of the Main Division of Human Resources0.012
9.Vladimir MulyakVice-President, Head of the Main Division of Oil and Gas Production and Infrastructure0.013
10.Vladimir NekrasovFirst Vice-President0.035
11.Valery SubbotinVice-President, Head of the Main Division of Supplies and Sales0.005
12.Gennady FedotovVice-President, Head of the Main Division of Economics and Planning0.001
13.Leonid FedunVice-President, Head of the Main Division of Strategic Development and Investment Analysis1.166
14.Evgeny KhavkinSecretary of the Board of Directors0.011
15.Lyubov KhobaChief Accountant0.345

* The shares of the members of the Management Committee in the charter capital are shown in accordance with the requirements of the legislation of the Russian Federation on disclosure of such information. It should be noted that under the laws of other countries, shares may be calculated according to a procedure differing from the aforementioned procedure. Specifically, the given shares do not coincide with the holdings of PDMRs that have been disclosed in accordance with the Listing Rules of the UK FSA.

The candidates for the Management Committee had been recommended by the President of OAO LUKOIL and approved by the HR and Compensation Committee of the Board of Directors of LUKOIL. The Board of Directors also approved the principal terms of agreements concluded with the members of the Management Committee.

In accordance with Item 2 of Article 86 of the Federal Law on Joint Stock Companies and based on the recommendations of the Audit Committee, the Board of Directors established the threshold remuneration for the auditor's services for the audit of the Company's financial statements, prepared in accordance with RAS in the amount of RUR 12.2 million.

The Board of Directors of LUKOIL has also approved its working plan for 2010-2011.