Former French Prime Minister Francois Fillon elected to the board of directors of Sibur
Former French Prime Minister Francois Fillon joined the board of directors of the Russian oil and gas chemical company SIBUR Holding, according to the company's website. Fillon became an independent director with a supervisory role.
Fillon joined the Audit, Human Resources and Remuneration Committee and the Sustainable Development Committee. “Monsieur Fillon is not only a top-level manager, but also a consistent supporter of promoting the sustainable development agenda and the importance of recycling and reusing raw materials. Mr. Fillon's experience, his extensive knowledge of management, economics and business processes will help the company in promoting ESG initiatives, ”SIBUR representatives told Interfax. The ex-premier of France is also on the board of directors of Zarubezhneft as a representative of Russia.
Fillon was included in the list of candidates on November 18, but the company decided to announce this on December 22, simultaneously with the disclosure of the new composition of the board. Among the directors were also the chairman of the board of SOGAZ, Anton Ustinov, and the general director of TAIF, Albert Shigabutdinov. The new board of directors did not include SIBUR shareholder Kirill Shamalov and independent director Andrei Vernikov. In addition, director Vladimir Razumov died. The largest shareholder of the holding, Leonid Mikhelson, has 31 percent of shares in SIBUR, a member of the board of directors of NOVATEK Gennady Timchenko – 14.45 percent, shares of Chinese Sinopec and the Silk Road Fund – 8.5 percent, SOGAZ – 10.625 percent, acting and former top management – 12.325 percent, as well as TAIF shareholders – 15 percent.
In December, the company announced that, together with the mobile operator MegaFon, it would launch a private wireless LTE network in Russia by 2024. According to executive director Vasily Nomokonov, cooperation with MegaFon will provide the largest private network in the country. It will provide improved control of production processes for the gas processing, chemical, rubber and petrochemical industries.
