TNK-BP extends term for interim chief

MOSCOW, April 29 (UPI) -- Partners to the Anglo-Russian venture TNK-BP extended the term of interim head Tim Summers as the search for a new chief executive drags on.

Summers replaced embattled chief executive Robert Dudley, who stepped down from his position at TNK-BP in December following a divisive row with Russian shareholders in the venture represented by the Alfa, Access/Renova group.

TNK-BP is the third-largest oil company in Russia.

Dudley fled Russia in July to carry out his responsibilities in a secret European location, citing harassment and disputes stemming from alleged violations of Russian labor laws.

AAR said Dudley was managing the firm as a division of BP, while BP officials worried about the growing influence of Russia in the merger. BP later seated Dudley on its board of executives.

Tony Hayward, the chief executive at BP, told The Wall Street Journal that BP and AAR were not anxious to find a replacement for Summers.

"We don't want to run this to artificial deadlines," he said. "It's about getting the right person."

TNK-BP had considered Denis Morozov, the former top official at the Russian metals leader Norilsk Nickel, but those talks collapsed over salary negotiations.

Summers' contract was set to expire June 1.