Rosneft President, Board Members Increase Stakes in Charter Capital

Igor Sechin and members of the Management Board have increased their interest in Rosneft’s charter capital, in a move highlighting convincing results from the company based in Russia.

‘Rosneft’s management participation in the charter capital is in line with best international practices and it is an integral part of Rosneft corporate culture. Executives are incentivized to improve the Company’s performance, as well as its operating and financial results,’ reads a note released on Friday.

Rosneft recently declared plans to expand its business, acquiring assets and expanding its international operations. 

Rosneft has declared plans to pair with ExxonMobil in a liquefied natural gas venture. This appears to intrude on plans by gas behemoth Gazprom to operate a LNG plant in Vladivostok.

Rosneft President Igor Sechin increased his holding from 0% to 0.0075%. Larisa Kalanda, member of the Management Board, Vice President of Rosneft, increased her holding from 0.0118% to 0.0168%. The other members increase their holding in a range of 0.00001% (Andrey Votinov) to 0.0016% (Peter Lazarev).