Vagit Alekperov will resign as both the president of PJSC LUKOIL and as a member of the board of directors.
The respective notices of resignation were sent Apr. 21 to the chairman of the board.
No reason for the early resignation nor word on a replacement were disclosed. Alekperov was sanctioned by the UK government Apr. 13 as the war in Ukraine continues.
A Mar. 3 statement by the board directed at shareholders, employees, and customers called for "the soonest termination of the armed conflict" in Ukraine, noting strong support for a "lasting ceasefire and a settlement of problems through serious negotiations and diplomacy."
LUKOIL is Russia’s second largest oil company behind state-owned Rosneft and produces over 2% of the world’s crude oil.