BP's Russia boss leaves to run Fairfield Energy
LONDON Jan 31 (Reuters) - David Peattie, the head of British oil company BP's often fraught Russian business, is leaving to run privately-owned North Sea oil producer Fairfield Energy, the companies said on Thursday.
The move comes as BP plans to sell its stake in its main Russian investment, TNK-BP - one of the country's biggest oil producers.
Peattie was one of a generation of managers at BP, including former chief executive Tony Hayward, that were seen as possible future leaders of the company. He will continue to sit on the board of TNK-BP until BP completes the sale of its half share to Russian state-controlled Rosneft.
Fairfield Energy is owned by a consortium of private and institutional investors from Europe and North America led by private equity firm Warburg Pincus and investment house Riverstone, where former BP CEO John Browne is a partner.
Peattie, a 32 years veteran of BP, succeeds Chris Wright at Fairfield.
BP decided to sell its TNK-BP stake last year after years of spats with its oligarch co-owners.
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Two killed, four wounded in Washington state school shooting
- Two U.S. states to quarantine health workers returning from Ebola zones |
- NYC police say hatchet attack by Islam convert was terrorism |
- 'We won't pay,' furious Cameron tells EU over surprise bill |