Former German Chancellor Gerhard Schroeder will not be nominated to the Board of Directors of Rosneft, ITAR TASS said citing Albrecht Funk, official representative of Schroeder. Rosneft declined to comment on the matter. Earlier, on March 4 Russian media reported that BP that owns solid stake at Rosneft adopted Schroeder as a candidate to the company’s board of directors.
The former German chancellor is said to be a compromise candidate as once he was in the management board TNK-BP, which was bought by Rosneft in 2013. Moreover, Schroeder is known for his friendship with Vladimir Putin. All these facts were likely to help him build business relationship with Igor Sechin who is unofficially said to decline all candidates except for BP’s CEO Bob Dudley. Thus, Schroeder could have become the candidate good enough for Rosneft and BP.
Currently, Gerhard Schroeder is the head of the shareholders' committee of Nord Stream AG. The CEO of the Nord Stream AG Matthias Warnig is likely to remain in the Rosneft board of directors, while Rostech’s CEO Sergey Chemezov is seen to lose his position. The latter is expected to be succeeded by Chairman of the Gazprombank Management Board Andrey Akimov.
Rosneft board of directors is approved at the shareholders' meeting which is held in June. The main stakeholder is Russia. BP has a 19.75% stake in Rosneft, thus making the UK the second biggest shareholder of the Russian company.
