March 24 (SeeNews) - Serbian oil and gas company NIS [BEL:NIIS], majority-owned by Russia's Gazprom Neft, said on Friday its board of directors has appointed Кyrill Tyurdenev as CEO.
Tyurdenev will replace Kirill Kravchenko who will take over as deputy CEO of Gazprom Neft for foreign assets management, the company said in a filing with the Belgrade Stock Exchange.
"On behalf of shareholders, I express confidence that the professionalism of Kyrill Tyurdenev will ensure the continuity of the course of development of NIS, which aims to increase the efficiency of business and transform the company into a strategic player in the Balkan energy market," the president of NIS, Vadim Yakovlev, said in the statement.
Tyurdenev joined NIS in April 2016, when he was named first deputy of CEO for refining, sales and distribution. He has been a board member of NIS since December 8.
"I will continue to participate in solving strategic issues of development of NIS in the role of a member of the board of directors of the company and will provide the necessary expertise for the new CEO. I am confident that with Kirill Tyurdenev NIS gains an efficient and experienced manager, able to successfully respond to the challenges facing our company, and to solve ambitious tasks related to the implementation of key investment projects of NIS," Kravchenko said.
Gazprom Neft owns 56.15% of the share capital of NIS. The Serbian company, with a stock market capitalisation of 122.3 billion dinars, is a component of the blue-chip index of the Belgrade bourse, BELEX15, and the performance of the index is strongly influenced by the movements in the company's share price.
NIS shares gained 0.27% on the Belgrade Stock Exchange on Friday and closed at 747 dinars.
The company saw its net profit rise by 3% in 2016 to 15 billion dinars ($128 million/121 million euro).
(1 euro = 123.929 dinars)
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