Dudley to Work on Transit
The employment visa of TNK-BP Chief Executive Robert Dudley expired Saturday. Instead, the top manager has received a ten-day transit visa, as the authorities hope this term will suffice for TNK-BP holders to decide whether Dudley’s contract is valid. The tricky point is that the transit visa doesn’t provide for employment.
The employment visa of TNK-BP Management CEO Robert Dudley expired July 19. The manager had applied for a new visa, to no avail though. Instead of the working one, the Federal Migration Service granted only a ten-day temporary visa to him “to agree on additional issues” related to the contract.
TNK-BP Management is the asset management company of TNK-BP Holding that unites core assets of TNK-BP.
According to Dudley, he was given ten days to prove validity of his contract. His argument is that, under the RF laws, the contract becomes termless if no termination notification has been given two weeks prior its expiration. In TNK-BP, they don’t doubt the manager will finally get an employment visa of Russia.
Mr Dudley’s contract was concluded in 2003 to last till December 31, 2007.
Russia’s holders of TNK-BP (AAR Consortium) that have been pressing for Dudley’s resignation insist that, pursuant to the Act on Joint Stock Companies, the contract should be endorsed by the BOD, when it comes to the sole executive body, i.e. chairman of the management board, and it has never happened with Dudley’s contract. So, when Dudley handed over his contract to Federal Migration Service, AAR co-owner Viktor Vekselberg AAR informed the Service that he didn't view it valid.
www.kommersant.com
All the Article in Russian as of July 21, 2008
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