New Board Members of Mazeiku Nafta
At its meeting on Friday, 24 November 2006, the Supervisory Board of Mazeiku Nafta appointed Daniel Feldman (Head of Big Sky Energy Corp.), Paul Nelson English (President of Mazeiku Nafta), Dariusz Formela (Executive Director at PKN ORLEN - Organisation) and Krystian Pater (Executive Director at PKN ORLEN – Refining Production). At the same time the Supervisory Board appointed Martin J. Parr as Chairman.
The appointment by Yukos International UK BV of the PKN ORLEN representatives is to ensure the proper closing of the transaction. After the unexpected resignation of the four members, Mazeiku Nafta’s Management Board was destabilized because of its lack of decision-making power. Completion of the Board’s composition is aimed at securing the refinery’s value by providing for the continuous functioning of all bodies of Mazeiku Nafta.
The representatives of PKN ORLEN will also help supervise the plan to reconstruct the facilities damaged in the fire.
PKN ORLEN stresses that, until gaining corporate control, it is the present owners of Mazeiku Nafta that hold responsibility for the management of the company.
