Russneft founder quits as restructure continues

Russneft founder Mikhail Gutseriyev

Russneft founder quits: Mikhail Gutseriyev, owner and founder of  Russneft,  has left the company, it was announced last Friday. Gutsieriyev has been one of the Russian business community’s more colourful and controversial characters in recent years after being forced to flee to London in 2007 after being accused of tax fraud. Mystery also surrounded the death of his son during the same period. Gutseriyev returned to Russia in 2010 after all charges were dropped against him and subsequently bought back the company. Rosneft has recently been undergoing a corporate restructuring, as a result of which Gutseriyev had become the company’s  sole shareholder. The company has been in talks over the rescheduling of  its debts, with (among others)  commodities trader Glencore.