Urals Energy announces board shake up

Executive Chairman of Urals Energy, Leonid Dyachenko, has stepped down from the position after three years, the company said Friday.

Executive Chairman of Urals Energy, Leonid Dyachenko, has stepped down from the position after three years, the company said Friday.

Dyachenko will resign as Executive Chairman but will remain executive director of the independent oil exploration and production company.

Andrew Shrager, who held the position of Chairman with Urals Energy prior to the company's initial public offering in 2005 will take up the position of Non-Executive Chairman.

Torbjrn Ranta, who has worked as a Chief Executive Officer for a number of publicly-listed Russian oil companies, also joins the board as a non-executive director.

Alexei Maximov, CEO of Urals Energy, said: "We are delighted to welcome Andrew, Stephen and Torbjrn to the Board and we look forward to their collective input and counsel. It is particularly pleasing that Andrew and Stephen are returning to the Urals Energy Board as both know this Company well and their appointments clearly demonstrate that the legacy situation that the Company endured are nearly resolved.

"The Board would also like to extend its welcome to Torbjrn, who brings to the company his significant sector experience which will serve as a catalyst in assisting us search for new assets."

The company, which focuses its operations in Russia, also announced it will hold its annual general meeting next February.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020