MAZEIKIAI — Today (September 21, 2002), Mazeikiu Nafta's General Shareholders Meeting approved changes to the Supervisory Council and Board of Directors of the Company following the sale of Williams International Company’s interest to YUKOS on September 19.
The General Shareholders Meeting dismissed the Supervisory Council formed on June 19, 2002 and approved new members of the Supervisory Council including Vladas Gagilas, Director of the Energy Resources Department of the Lithuanian Ministry of Economy; Genovaite Gelezeviciene, Manager of the Analysis and Forecast Division of the Economics Strategy Department of the Ministry of Economy; Vytautas Arsauskas, Deputy Manager of the Oil Division of the Energy Resources Department of the Ministry of Economy; Oleg Sheiko, Vice President of YUKOS Moscow; Mikhail Yelfimov, Executive Vice President of YUKOS RM; Vladimir Kasterin, Director of Development and Technical Support of YUKOS RM; Bruce Misamore, Chief Financial Officer of YUKOS Oil Company; Pavel Ivlev, a lawyer of ALM Lawyers’ Firm; and Lord David Owen, the Chairman of YUKOS International UK B.V.
The first meeting of the new Supervisory Council of Mazeikiu Nafta followed the General Shareholders Meeting and voted on major issues including the Work Regulations of the Council, election of Vladas Gagilas as Chairman of the Council for a one-year period, and approval of a new Board of Directors of the Company.
The new Board is comprised of Nerijus Eidukevicius, Deputy Minister of Economy; Kipras Balkevicius, Manager of the Oil Division of the Ministry of Economy; Gediminas Vaiciunas, Advisor on Energy Issues to the Office of the Government of Lithuania; Mikhail Brudno, First Vice President of YUKOS RM; Yuri Kalner, Director for Strategic Business Planning of YUKOS RM; Andrey Kalinin, Head of the Planning and Controlling Department of YUKOS RM; and Frank Rieger, Vice President for Planning and Control of YUKOS Oil Company.
The new Board held its first meeting and approved its Work Regulations and stipulated authority limits of the Company’s Administration. Mikhail Brudno was elected as Board Chairman for a period of one year. Tom Schneider was appointed acting General Director and Vita Petrosiene was appointed acting Chief Financial Officer of Mazeikiu Nafta. Virtually all of the existing Mazeikiu Nafta management staff will remain in place for at least the next 90 days while future management personnel requirements are being evaluated.
Date: September 21, 2002
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