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Schroeder to join board of TNK-BP Schroeder to join board of TNK-BP
(about 21 hours later)
Former German Chancellor Gerhard Schroeder is to join the board of Russo-British oil giant TNK-BP.Former German Chancellor Gerhard Schroeder is to join the board of Russo-British oil giant TNK-BP.
BP and its Russian billionaire partners in TNK-BP spent much of 2008 in battle for control of the firm.BP and its Russian billionaire partners in TNK-BP spent much of 2008 in battle for control of the firm.
He will be one of three independent directors appointed to try to prevent further problems amongst the board.He will be one of three independent directors appointed to try to prevent further problems amongst the board.
He joins James Leng, named on Wednesday as new chairman of Rio Tinto, and Alexander Shokhin, of the Russian Union of Industrialists and Entrepreneurs.He joins James Leng, named on Wednesday as new chairman of Rio Tinto, and Alexander Shokhin, of the Russian Union of Industrialists and Entrepreneurs.
"The counsel of such a distinguished statesman [as Mr Schroder], who brings both enormous geopolitical experience and a history of strong relationships with Russia, gives me particular confidence that the next chapter in the progress of TNK-BP will be good for all shareholders and for Russia," said BP chief cxecutive Tony Hayward. "The counsel of such a distinguished statesman [as Mr Schroder], who brings both enormous geopolitical experience and a history of strong relationships with Russia, gives me particular confidence that the next chapter in the progress of TNK-BP will be good for all shareholders and for Russia," said BP chief executive Tony Hayward.
Former boss Robert Dudley resigned in December. He had earlier left the country following a long-running wrangle about his work visa, raids on the TNK-BP offices, and overseas staff who had been denied visas.Former boss Robert Dudley resigned in December. He had earlier left the country following a long-running wrangle about his work visa, raids on the TNK-BP offices, and overseas staff who had been denied visas.
The rest of the board also resigned in December, when a new board was appointed comprising four representatives each from BP shareholders and Russian shareholder consortium AAR, as well as one independent director.The rest of the board also resigned in December, when a new board was appointed comprising four representatives each from BP shareholders and Russian shareholder consortium AAR, as well as one independent director.
Mr Schroeder was criticised in Germany in 2006 for accepting the highly paid chairmanship of Nord Stream, the pipeline project controlled by Russian state gas export monopoly Gazprom.Mr Schroeder was criticised in Germany in 2006 for accepting the highly paid chairmanship of Nord Stream, the pipeline project controlled by Russian state gas export monopoly Gazprom.
Mr Schroeder had backed the project while he was chancellor, and took the Nod Stream post soon after he stepped down as German leader.Mr Schroeder had backed the project while he was chancellor, and took the Nod Stream post soon after he stepped down as German leader.
TNK-BP is currently in negotiations to sell its controlling interest in the Kovykta gas field in Siberia, one of the largest fields in the world, to Gazprom.TNK-BP is currently in negotiations to sell its controlling interest in the Kovykta gas field in Siberia, one of the largest fields in the world, to Gazprom.
But BP, TNK-BP and a spokesman for one of the Russian billionaires in TNK-BP said they saw no potential conflicts of interest for Mr Schroeder.But BP, TNK-BP and a spokesman for one of the Russian billionaires in TNK-BP said they saw no potential conflicts of interest for Mr Schroeder.