23rd May 2018 14:27
LONDON (Alliance News) -Russia-focused oil company Exillon Energy PLC said Wednesday it has appointed Viacheslav Nekrasov as chief executive officer and director, effective May 31.
Nekrasov was recommend by Seneal International Agency Ltd, which holds a 30% interest in the company. He will replace Dmitry Margelov, who is stepping down after two years in the role since 2016 to pursue other business interests.
Nekrasov will be joining from JSC Kompleksnye Investitsii, where he serves as project finance director.
"The board noted that Margelov demonstrated a substantial time commitment in his role as chief executive officer and director of the company, whilst successfully guiding the company through a difficult trading period as a result of prevailing market conditions, and expressed its gratitude and commended Margelov's considerable efforts in leading the company over the course of his appointment," Exillon Energy said in a statement.
Shares in Exillon Energy were down 1.2% at 82.28 pence on Wednesday.
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EXI.L