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OAO LUKOIL (“LUKOIL” or the “Company”) Board of Directors met in Moscow today to approve the composition of the Management Committee and the Board of Directors Work Program for 2003-2004.
The composition of the Company’s Management Committee is as follows:
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Vagit Yusufovich ALEKPEROV |
President |
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Anatoly Alexandrovich BARKOV |
Vice-President |
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Anatoly Gavrilovich KOZYREV |
Vice-President |
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Sergei Petrovich KUKURA |
First Vice-President |
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Ravil Ulfatovich MAGANOV |
First Vice-President |
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Ivan Alekseyevich MASLIAEV |
Head of the Main Division of Legal Support |
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Alexander Kuzmich MATYTSYN |
Vice-President |
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Anatoly Alekseyevich MOSKALENKO |
Head of the Main Division of Human Resources |
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Vladimir Ivanovich NEKRASOV |
Vice-President/General Director of OOO LUKOIL-Western Siberia |
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Anatoly Alexandrovich NOVIKOV |
Vice-President |
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Serik Murzabekovich RAKHMETOV |
Vice-President |
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Alexander Semyenovich SMIRNOV |
Vice-President/General Director of OOO LUKOIL–Energogaz |
|
Yuri Filippovich STOROZHEV |
Vice-President |
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Dmitry Nikolayevich TARASOV |
First Vice-President |
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Leonid Arnoldovich FEDUN |
Vice-President |
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Yevgeny Leonidovich KHAVKIN |
Head of the Office of the Board of Directors |
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Lyubov Nikolayevna KHOBA |
Chief Accountant – Vice-President |
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Jevan Krikorovich CHELOYANTS |
Vice-President |
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Vagit Sadiyevich SHARIFOV |
Vice-President |
Leonid FEDUN, member of the Management Committee, addressed the Board of Directors Meeting with a report on the Company’s performance in the 1st quarter of 2003 and top-priority aspects of the Second Stage of the Company Restructuring Program.
The Board of Directors approved the procedure for remuneration and compensation of expenses of members of the Board of Directors and the Auditing Commission and also formulated the key provisions of contracts with the President and the members of the Management Committee.
The Board of Directors outlined a plan of its activities for 2003-2004.
At its August 2003 session the Board of Directors will review the preliminary results of the Company’s performance in the first 6 months of 2003 and the implementation of the budget and the investment program in 2003. The Meeting will also look at ways to improve corporate governance, including the establishment of a number of Board of Directors Committees: on Strategic Planning, on Risk and Corporate Disputes Management, on Auditing, on Personnel and on Remuneration. The agenda of this meeting also includes the adoption of two documents: Information Policy Regulations and Dividend Policy Regulations.
In October, the Board of Directors will convene in the city of Burgas, Bulgaria, where LUKOIL-Neftokhim refinery is situated. The meeting will discuss the Company’s international projects in the sphere of refining and marketing.
The Board of Directors meeting to be held in November 2003 will adopt OAO LUKOIL’s Strategic Development Program for the period till 2013.
Next January, the Board of Directors will summarize preliminary results of the Company’s performance in 2003 and outline the Company’s objectives for 2004 and the near future.
In February and April 2004, the Board of Directors will tackle issues connected with the preparation of the Annual General Meeting.
The Board of Directors meeting in May 2004 will give its preliminary approval to the annual report to be presented to the annual general shareholders meeting.
The Board of Directors meetings will also discuss the Company’s current activities and approve interested/related party transactions. | 
