Billionaire Vagit Alekperov has informed Lukoil of his decision to give up the position of the company’s president ahead of schedule and resign from its board of directors. This is stated in a message on the Lukoil website.

Why Alekperov made such a decision, when he will resign and who may replace him, the Lukoil statement does not specify.

Alekperov held votes on 3.12% of Lukoil’s shares as of March 31, the company said. Alekperov’s fortune was estimated at $10.5 bln when Forbes ranked the world’s richest billionaires. Alekperov is one of the Russian billionaires whose fortune has shrunk the most since the spring of 2021: by $14.4 bln.