MAN OIL GROUP AG
MAN OIL GROUP AG: Proposed Appointment
MAN OIL GROUP AG / Key word(s): Change of Personnel Date: 27 March 2012
Man Oil Group Zug, Switzerland: Man Oil Group, the environmentally friendly oil-sludge treatment specialists, announces its intention to appoint a leading scientist and businessman, Aleksandr Potemkin, as Vice-President of the Company; his appointment is subject to approval at the next shareholders' meeting.
The proposed appointment was announced in Moscow by Genadi Man, President and CEO of Man Oil Group, who commented:
Aleksandr Potemkin, proposed Vice President, added: 'Issues such as oil-contaminated waste recycling and disposal are important elements of the global environmental policy that needs to be created. However, these issues are particularly important in Russia where the economy is largely resource-based, making 12.7% of world production, equating to more than 500 mln tons. Environmental standards and penalties in Russia are becoming more severe and the increase in the net profit of oil refineries is proportionally related to the dynamics of land pollution. 'MOG AG and I share the same vision and values and I look forward to working with the team to develop the full potential of the business. As a result, I have not just accepted the offer to join the Company but I have also become a shareholder.'
Notes: – Man Oil Group is a Swiss company which provides complex treatment of oil sludge and oil-contaminated soils on an industrial scale with waste bioremediation thus facilitating the separation and recovery of up to 95 % of hydrocarbons. The treatment method is designed to be environmentally friendly. Man Oil Group has operations in Russia, Ukraine, Kazakhstan and Azerbaijan. Technological solutions and reagents used in the recycling have been developed by Man Oil Group with the Ukrainian Institute for Soil Science and Agrochemistry. – Shares in Man Oil Group AG were admitted to trading on the Frankfurt Stock Exchange on July 13, 2011, Aleksandr Petrovich Potemkin – Professor of M. V. Lomonosov Moscow State University, Doctor of Sciences. – Education: M. V. Lomonosov Moscow State University, University of Bonn (Rheinische Friedrich-Wilhelms-Universität Bonn). – Business: advanced scientific technologies, ship ownership, biotechnologies and other enterprises. The business covers more than ten countries and has nearly 10,000 employees.
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