(Adds AGM on June 27)
By Vladimir Soldatkin
MOSCOW May 29 John Mack, a former chief
executive and chairman of Morgan Stanley, has decided to
leave the board of Russia's top oil producer, Rosneft,
for personal reasons, the Kremlin-controlled company said on
The departure of Mack, 69, after less than a year on the
board, comes after the United States imposed sanctions on
Rosneft's head Igor Sechin over Russia's actions in Ukraine.
Rosneft said his decision to leave was not connected to the
sanctions, adding that he is leaving for personal reasons.
A spokesman for Rosneft said that the decision on Mack's
departure and his replacement would be taken at the annual
general meeting scheduled for June 27.
The company also said that Artur Chilingarov, 74, has been
proposed to replace Mack on the board. Chilingarov, a member of
Russia's upper house of the parliament is best known as an
explorer in the Arctic, a region seen as increasingly important
for Rosneft's future as an oil and gas producer.
Mack is currently a senior adviser at KKR & Co and
an independent non-executive director at Glencore.
He joined Rosneft's board last June after Rosneft bought
Anglo-Russian oil firm TNK-BP for $55 billion from BP
and the AAR consortium.
Six months later Rosneft announced it would buy the majority
of the global physical oil trading operations of Morgan Stanley.
The Russian company has said that the deal with Morgan
Stanley is intact and will be completed in the second half of
(Editing by Greg Mahlich)