Rosneft Poaches Gazprom’s Baranov to Head Investor Relations

OAO Rosneft hired Andrey Baranov from OAO Gazprom to head investor relations as Russia’s largest oil producer seeks to add institutional shareholders.

Rosneft also appointed Andrey Gromadin, a former vice president at JPMorgan Chase & Co. in Moscow, as Baranov’s deputy, it said Wednesday in an e-mailed statement.

The hirings will help state-controlled Rosneft widen its investor portfolio and “create additional drivers for the company’s market-capitalization increase,” it said.

In appointing Baranov, Rosneft gains an executive with more than seven years’ experience at another large, state-controlled company, where he held a similar post. While Rosneft is only three-quarters of Gazprom’s size, its output has more than doubled since 2008 after a series of acquisitions.

Sergei Kupriyanov, a spokesman for Gazprom, confirmed that Baranov had left the company. Ivan Khromushin will stand in until a permanent replacement is found, Kupriyanov said.

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