Russian-focused oil explorer Exillon Energy has appointed two new directors to its board following a buy-in by RusOil Group last year.
Alexander Suchkov has been appointed executive director and deputy chief executive officer, and Sergey Koshelenko has become a non-executive director.
Mr Suchkob is head of the oil and gas production and development division of Oil and Gas LLC and NK Dulisma, while Mr Koshelenko is currently deputy chief executive of VEB Capital LLC.
Both directors were recommended to the board by Senal International Agency – controlled by RusOil group owner Alexi Khotin – which acquired a 29.99% interest in the company’s share capital in December 2013.
Exillon also today confirmed it has appointed a leading recruitment consultant to search for a chief financial officer to bring the number of directors on its board up to eight.
“In making these appointments, the board has sought to balance the interest of all shareholders, including RusOil Group who are now our largest shareholder,” said non-executive chairman David Herbert.
“The proposed board will contact 50%, four out of eight, independent non-executives. The new directors have much to offer the company and will enhance the quality of the board’s decisions.”
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