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Sechin's resignation to create risks for Russia's Rosneft - board chairman

© Sputnik / Sergei Guneev / Go to the photo bankIgor Sechin
Igor Sechin  - Sputnik International
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The resignation of Russian Deputy Prime Minister Igor Sechin from the board of directors of country's oil giant Rosneft will create risks for the company, Board Chairman Alexander Nekipelov said on Friday.

The resignation of Russian Deputy Prime Minister Igor Sechin from the board of directors of country's oil giant Rosneft will create risks for the company, Board Chairman Alexander Nekipelov said on Friday.

"Igor Ivanovich has played a big role in the development of the company and has much authority in the company, including among foreign investors, so his resignation would cause risks [for Rosneft,]" Nekipelov said.

He added that the company's share price dropped after the announcement of Sechin's resignation.

Sechin, nicknamed Russia's "energy tsar," withdrew his candidacy as chairman of the board of Russia's biggest oil company in April under order from President Dmitry Medvedev.

Medvedev's call for all government officials to step down from the boards of state-run companies is part of a wider goal to increase transparency and boost Russia's lagging investment climate.

MOSCOW, June 10 (RIA Novosti) 

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