TNK-BP’s finance director James Owen quits

The CFO of BP’s Russian joint-oil venture has quit his post.

James Owen, CFO of TNK-BP, left the role citing concerns about shareholder
issues which left it ‘difficult for him to continue working independently’.

CEO Robert Dudley was pulled out of Russia two weeks ago amid claims of
harassment and threats to his visa status, leaving Owen as one of the most
senior BP figures still working in Russia on the venture.

BP and its Russian colleagues have been in dispute over strategy and
management control, according to reports.

Accountancy Age flagged up last week the uncertainty that would
surround Owen in his role, with oil experts telling the magazine of the
difficulties of working in Russia.

‘Normally the Russians operate by starting with confrontation and only
settling down to a position later,’ one oil FD told Accountancy Age.

Dudley said: ‘Along with many others in TNK-BP, I greatly regret that we are
losing Jim. He is a well seasoned and highly respected leader in the global
financial community, as well as being a valuable member of our top management
team inside TNK-BP.’

Further reading:

TNK-BP FD under pressure as oil
venture turns sour

the Telegraph’s story

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