BP picks its choice for CEO of TNK-BP

MOSCOW, May 26 (UPI) -- BP put forward a Russian former gold executive as its choice to head the TNK-BP venture in an effort to end a longstanding row over corporate management.

BP announced its choice of Pavel Skitovich, the former head of Polyus Gold, the largest gold miner in Russia, to serve as the new chief executive officer of TNK-BP, the Financial Times reports.

"He is a strong candidate and we think he is the right person for the job," BP said.

Russian business daily Vedomosti had reported the board of TNK-BP would nominate Viktor Vekselberg as the next CEO. That nomination, however, would not hold as Vekselberg is a member of the Alfa-Access-Renova group, which holds the Russian interest in the venture.

Former Chief Operating Officer Tim Summers has acted as CEO since embattled chief Robert Dudley stepped down last year following a bitter row over corporate direction. BP had worried TNK-BP was too biased toward Russian interests.

The row that resulted in Dudley's ouster gave BP the right to pick a Russian-speaking independent candidate to serve as the next chief executive, though TNK-BP board members and AAR must approve the choice.

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