Miller was re-elected head of Gazprom for another five years

Miller will remain head of Gazprom for at least another five years.

“The Board of Directors considered the issue on election of the Chairman of the Board of PJSC “Gazprom” and unanimously decided to elect Miller Alexei Borisovich Chairman of the management Board since may 31, 2016 for a term of five years”, — stated in the message of the company.

Earlier on Tuesday,16 February, the newspaper “Kommersant” reported, citing its sources, that the government has approved a Directive to the state representatives in the Board of Directors “Gazprom” according to which the term of the contract with the Chairman of the Board of the company Alexey will be extended for another five years.

The newspaper’s source in the Kremlin said that the contract extension will need to be agreed in the presidential administration of Russia, but he characterized this procedure as “pure formality”.

Miller is Chairman of Board of “Gazprom” since 2001, the last time he was re-elected in March 2011.

On the expiration of his tenure Miller could “work around” not only other heads of state-owned companies, but also their predecessors in “Gazprom” and the Ministry of gas industry of the USSR, drew the attention of “Kommersant”, announcing the decision under the head of “Gazprom”.

In November 2015 the Russian Forbes magazine recognized Miller’s the dearest top Manager of Russia. According to the edition, the remuneration Miller in 2014 increased from $25 million to $27 million.

Reassign Miller took place against the background of lower export gas prices to the lowest levels in the last ten years, while costs for extraction and transportation of gas has increased significantly, wrote “Kommersant”, Recalling a appear earlier the rumor about the departure of the head of “Gazprom”.