Tatarstan leadership assigns ambitious tasks to OAO Nizhnekamskneftekhim

Due to comments appearing in mass media regarding resignation of OAO Nizhnekamskneftekhim Director General Vladimir Busygin I declare the following.

The decision about Vladimir Busygin’s resignation was taken by Tatarstan leadership upon agreement with shareholders due to ambitious tasks given to Tatarstan petrochemical complex.

Tatarstan President Rustam Minnikhanov displays greatest respect towards Vladimir Busygin and considers him one of the leading specialists in this field in the country. His new appointment shall be in no case considered as the so-called “golden parachute”. The rumors of his “retirement” are not true.

In the near future Vladimir Busygin will be nominated to the position of OAO Nizhnekamskneftekhim Board Chairman. Vladimir Busygin’s appointment as Deputy Director General of OAO TAIF on management and strategic development of OAO Nizhnekamskneftekhim and his nomination to the position of Nizhnekamskneftekhim Board Chairman will broaden his powers and allow Vladimir Busygin to efficiently perform tasks assigned by Tatarstan leadership.