KNGK-INPZ LLC reports on key organizational changes. The company has formed a collegial executive body, which is the management board. The powers of the sole executive body have been transferred to the management company.
The Management Board includes the main executives of the Company involved in the production and marketing of products. The work of the Management Board will allow solving urgent operational issues most responsively. Dmitry Kibirsky, who previously held the position of General Director of KNGK-INPZ LLC, was appointed Chairman of the Management Board.
The powers of the sole executive body have been transferred to KNGK-Asset Management LLC (KNGK LLC). It was decided at KNGK-INPZ LLC in order to increase the transparency of the corporate management system of the Company and the effective use of joint-stock capital through the adoption of the key decisions by collegial bodies. KNGK-Asset Management LLC will provide a set of management services for the plant in order to develop strategically important relationships with the existing partners, and will also expand their range.
The plant’s team, under the leadership of the Management Board, will focus on the direct implementation of long-term investment programs for the construction of the complex for the production of gasoline and aromatic hydrocarbons (KPAAU), in order to expand the product line and improve the quality of the products. With the commissioning of AT-6 at the end of 2020, the plant increased its refining capacity from 3 to 6.6 million tons of oil per year, and with the launch of KPAAU, it will produce AI-92 and AI-95 class 5 gasoline, petroleum xylene, propane-butane automotive, and butane technical.
The transfer of powers to the management organization implies that a number of managers in charge of certain areas of work will be responsible for the strategic development of the enterprise in these areas. This is a logical step towards the improvement of the plant’s management system designed to increase the effectiveness of strategic decisions.
The organizational changes will not affect the obligations of the plant to the employees and partners.