A team of top professionals including R.R. Simonyan, E.B. Titova and Walid Chammah was invited to take part in developing the strategy to establish a universal financial institution on the basis of the Russian Regional Development Bank (RRDB). The team was invited to prepare the RRDB development strategy, improve efficiency, intensify control, ensure complete transparency of the Company’s financial sources and enhance the efficiency of the Bank. The analysis of the available input at this stage has suggested focusing on the development of RRDB as a corporate and retail banking institution, improving treasury operations and enhancing the efficiency of its operations.

Rair Simonyan, Elena Titova and Walid Chammah are leaving the RRDB Supervisory Board. Elena Titova is also stepping down as the President of RRDB. Rosneft expresses its gratitude to Rair Simonyan, Elena Titova and Walid Chammah for their participation in joint projects and wishes them every success in their future endeavours.