Gazprom elects new Chairman of the Board

Gazprom’s annual General Shareholders Meeting on 27 June was followed by a meeting of the company's newly elected Board of Directors. During the meeting, Viktor Zubkov was elected as Chairman of the Board of Directors, while Alexey Miller, Chairman of the Gazprom Management Committee, was named as Deputy Chairman of the Board. The General Shareholders Meeting involved the review of the annual report, accounting statements, the audit commission’s report, the auditor's report and other materials.

Alexey Miller and Viktor Zubkov.

“The behavior of Gazprom's main indicators demonstrates stability and reliability of the company's business,” stated Alexey Miller during his speech. “The most important result of the year – a progress in the strategy aimed at promoting our leadership in the energy industry. We obtained a record-breaking level of gas supply to Europe. We became the leaders in developing hydrocarbon reserves of the Russian Arctic. We pioneered subsea gas production in Russia. Gazprom Group ranked first around the globe in terms of heat production. In the reporting year Gazprom took the lead among global companies by EBITDA results.”

“In 2013 we were improving business management and were taking steps to boost its efficiency, which allowed us to successfully close the reporting period, despite the complicated situation in the global, European and Russian economies. Gazprom demonstrated the financial indicator growth. Sales revenues grew by 4.9% and net profit – by 8.8%. Last year's financial results enable us to increase the dividend amount. Following Gazprom's 2013 operating results, the Board of Directors proposed the dividend payout in the amount of RUB 7.2 per share, which exceeds last year's level by over 20%,” continued Miller.

Adapted from press release by Rosalie Starling

Read the article online at: https://www.worldpipelines.com/business-news/30062014/gazprom_elects_new_chairman_of_the_board_568/