Russia: Former German Chancellor Schroeder appointed chairman of Rosneft

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2 years ago

Former German Chancellor Gerhard Schroeder was appointed chairman of Rosneft, Russia's largest oil company, during a meeting of the board of directors in St. Petersburg, Friday.

SOT, Andrei Belousov, Member of the Rosneft Board of Directors (Russian): "An extraordinary general meeting of shareholders was convened on the initiative of the Board of Directors on July 27, 2017. The agenda of the meeting includes issues of amending the company's charter, early termination of the powers of current members of the board of directors and electing a new cast. These issues are related to the proposal to increase the number of directors of the company."

SOT, Gerhard Schroeder, former Chancellor of Germany (German): "It would be completely disastrous after I had just been nominated, if I could not consult with the administration and the leadership, the operative leadership of the company, before I issue a statement, as you can imagine. It is risky to do such a thing. I firstly have to thoroughly inform myself of the details, over the strategy approaches. Then you can ask the question again, and I will answer you then too."

SOT, Gerhard Schroeder, former Chancellor of Germany (German): "My interests are to represent Germany and not least to have good relations with Russia, economic as well as political. I have the impression, really the impression, that all my predecessors saw the same and my successors too."

SOT, Gerhard Schroeder, former Chancellor of Germany (German): "With concern to the European market, one can only point out that Rosneft is the most important oil exporter in Germany that employs many, many workers in the refineries but not only in the refineries. This is also an engagement which can’t be overlooked."

SOT, Gerhard Schroeder, former Chancellor of Germany (German): "No, no. I am an ‘independent director’, as it’s called. I am really independent, like I always was, and it will stay that way. And you can assume from that that in such a premium in which the most powerful people belong, it is very rare that such things are coordinated, but rather an agreement is reached through discussion, and if that’s not the case one has to try. That is also one of my duties to find a balance when there are varying interests. But overall it is so that there is a board for corporation law, our company would be listed, the company in New York would be listed, and the board considers the business’s interests, and not just any individual."

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