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Schroeder, Warnig say extension of their term of office in Rosneft board impossible

The company stated that it would continue using "the approaches of comprehensive analysis, thorough planning and modelling of projects being implemented, as well as the principles of continuity and consideration of the interests of partners on a market basis, introduced by them"

MOSCOW, May 20. /TASS/. Gerhard Schroeder and Matthias Warnig have stated the extension of their term of office in the board of directors of Rosneft is impossible, the company said in a statement on Friday.

"Rosneft informs that Gerhard Schroeder and Matthias Warnig have stated the extension of their term of office in the company’s board of directors is impossible," the statement said.

Rosneft understands the decision, according to the statement. "We understand their decision," the company said, adding that it will continue using "the approaches of comprehensive analysis, thorough planning and modelling of projects being implemented, as well as the principles of continuity and consideration of the interests of partners on a market basis, introduced by them."

Schroeder and Warnig contributed much to Rosneft’s international business thanks to their strategic vision, practical experience and deep understanding of the global market issues, Russia’s oil major noted.