German Khan Joins the Supervisory Board of Europe's Largest Oil and Gas Company
Wintershall Dea is the largest oil and gas company in Europe, which was created in May 2019 after the merger of Wintershall, a BASF-controlled petrochemical concern, and the subsidiary LetterOne DEA. The combined production of both companies in 2018 amounted to 215 million barrels oil equivalent, which corresponds to approximately 30 million tons. The share of BASF in Wintershall Dea was 67%, LetterOne - 33%. From 2003 to 2013, German Khan was the executive director of the oil company TNK-BP, which Alfa Group, Russian partners and BP sold to Rosneft in March 2013.
As Khan explained to the Russian media, its functionality, like that of other members of the supervisory board, is determined by its provisions: this is participation in work on strategic issues, personnel policy issues, and so on. There are nine seats on the board, of which BASF has four representatives, the workforce has three seats and the remaining two are at LetterOne. In addition to Khan, the holding of Russian shareholders in the rank of deputy chairman of the Supervisory Board is represented by the ex-head of the British BP, Lord Brown, who has been heading L1 Energy (LetterOne's energy division) since 2015, follows from the German registry. He also chaired the Dea Supervisory Board, while it belonged to Russian businessmen.
Last week, it became known that Deputy Merena Maria Hanssen, who was responsible for the EMEA region (Europe, the Middle East and North Africa) and asset integration, and before the merger, led Dea, left Wintershall Dea at the end of 2019. “There was no conflict, Mary had rather broad powers in her status. Now we are looking for a candidate for her place, and so far the priority is to attract a new employee from the outside”, Khan emphasized.