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Gennady Timchenko resigns from Novatek board of directors

Previously the businessman was put on the EU’s blacklist

Gennady Timchenko Sergei Karpukhin/TASS

Gennady Timchenko

© Sergei Karpukhin/TASS

MOSCOW, March 21. /TASS/. Russian businessman Gennady Timchenko has decided to resign from the board of directors of Novatek, in which he owns 23.49% of shares, the company said in a statement on Monday.

Earlier, his candidacy was not included in the list of Novatek nominated directors that will be submitted for consideration to the general shareholders meeting.

"Gennady Timchenko has decided to resign from the company’s board of directors effective 21 March 2022," the statement said. Previously the businessman was put on the EU’s blacklist.

Novatek is one of the largest independent producers of natural gas in Russia. The company is engaged in exploration, production, processing and marketing of natural gas and liquid hydrocarbons.

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