Exillon Energy has promoted its current deputy chief executive to lead the company.
Dmitry Margelov will take up the new role from now, replacing the current chief executive, Alexander Suchkov who is stepping down to pursue other interests.
Margelov was also recommended to the board by Seneal International Agency which has a 29.99% interest in the company’s share capital.
The promotion comes on the same day a number of companies including Madalena Energy and Norwest Energy said their chief executives had decided to step down.
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