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VNF: On changes in management of joint stock company Ventspils nafta

Spekuliantai.lt | 2009-11-20 | NASDAQ OMX biržų naujienos | perskaitė: 1266
Raktiniai žodžiai: Ventspils nafta, VNF
VNF: On changes in management of joint stock company Ventspils nafta

Ventspils nafta Changes board/management/auditors 20.11.2009

On changes in management of joint stock company Ventspils nafta

The Chairperson of Management Board and President of the public joint stock
company Ventspils nafta Olga Pētersone has informed about resignation from the
position in management of JSC Ventspils nafta. By decreasing the heavy
workload, O.Pētersone will continue working in the Supervisory Councils for
Ventspils nafta termināls Ltd and LatRosTrans Ltd, as well as the associated
company JSC Latvian Shipping Company. Simon Boddy, Ilva Purēna and Normunds
Staņēvičs continue working in the Management Board for JSC Ventspils nafta.

O.Pētersone has held the office of Chairperson of Management Board/President of
JSC Ventspils nafta since January 2004. Under the management of O.Pētersone JSC
Ventspils nafta has faced many challenges and has had considerable success in
the international fight of companies of JSC Ventspils nafta Group, by
strengthening its development, ensuring stable operation and positive financial
results, thereby furthering growth of JSC Ventspils nafta in value.

The strongest evidence for that is the resolution adopted unanimously by
shareholders of JSC Ventspils nafta on November 19, 2009 on payment of
dividends in the amount of more than 50 million lats, by ensuring remarkable
return of investments of every shareholder and by confirming both the
successful work of the company's management in the previous years and the
farsighted policy of planning financial resources. Representatives of the
largest JSC Ventspils nafta shareholder - the international corporation Vitol
Group - have expressed their gratitude towards O.Pētersone.

“There is a saying that you have to leave at the best point - and I have a
great feeling of satisfaction owing to the ensured opportunity of the company
for all shareholders to receive what has been earned and saved up in the
previous years. It was interesting and at the same time hard to work at JSC
Ventspils nafta - there have been endless disputes between shareholders and
unsubstantiated legal proceedings that JSC Ventspils nafta got involved in. In
such circumstances, even the most excellent health might not endure, therefore
I have decided to settle into a slower rhythm, by continuing working in
Supervisory Councils of three companies of the Group,” emphasizes O.Pētersone.

JSC Ventspils nafta is the central holding company in a transit-oriented Group
whose task is to manage the investments in subsidiaries by promoting the
Group's joint values and growth in the value of each subsidiary individually.

JSC Ventspils nafta Group is working in the following areas: transshipment of
crude oil and petroleum products; transport of crude oil and petroleum products
by pipelines; a shipping business.






JSC Ventspils nafta
For further information -
Gundega Vārpa,
Public Relations and Advertising Manager,
tel.: +371 67229182;
e-mail: [email protected]
www.vnafta.lv

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