The term of powers of Sechin as the head of Rosneft is extended for five years

The powers of Igor Sechin as head of Rosneft are extended for five years, RIA Novosti reports with reference to the company's press service.

"The terms of the contract are determined by the corporate standard on payments and compensation to the company top managers," the press service said. At the end of April, the Federal Agency for State Property Management (Rosimustra) introduced a directive to the government to extend the term of office of Sechin at the head of Rosneft.

Igor Sechin headed Rosneft in May 2012. Then the contract with him was concluded for a three -year term. In June 2014, by decision of the shareholders of the company to the Charter of Rosneft, a change was made, according to which the board of directors appoints the president of the company for five years.

On March 12, the editor -in -chief of Independent Gazeta Konstantin Remchukov reported the possible resignation of Sechin. Presidential spokesman Dmitry Peskov then explained the appearance of these rumors with "spring exacerbation."