News 2011
#3 (69) June, 2011KMG EP
Since April 8, 2011 Askar Balzhanov has started his duties as a general director (chairman of the board) of JSC KazMunayGas Exploration & Production after election at the extraordinary meeting of the company's board of directors.
The main shareholder of KMG EP - the national company KazMunayGas - introduced a proposal on the pre-schedule termination of powers of Kenzhebek Ibrashev in connection with his transfer to other important direction of work in the KMG' group companies.
The company's independent directors have supported this initiative considering that the proposed nominee of the new general director is well familiar to the market participants, and his competence does not cause doubts.
Аskar Balzhanov already headed the company from June 2006 till May 2009. Since June 2006 he was the member of the board of directors and since March 2010, chairman of the board of directors of KMG EP. As the company's Code of Corporate Management do not allow to combine the functions of the chairman of the board of directors and general director, the duties of the chairman of the board of directors of KMG EP will be temporarily performed by Sisengali Utegaliyev.