On November 25 at a session of OAO Tatneft Board, members of the Board accepted the voluntary retirement of Director General Shafagat Takhautdinov and approved appointment of Nail Maganov, who had earlier held the post of First Deputy Director General of OAO Tatneft, Head of the Department for oil products sales.

According to Tatarstan President and Board Chairman Rustam Minnikhanov, it was Shafagat Takhautdinov’s voluntary decision and he would keep his seat in the Board.

Rustam Minnikhanov thanked Shafagat Takhautdinov, who had held his post since 1999, for his work noting that during that period Tatneft became one of the leading Russian companies and major company in Tatarstan.