Financial Times FT.com

Dudley survives TNK-BP challenge

By Catherine Belton in Moscow

Published: July 7 2008 23:23 | Last updated: July 7 2008 23:23

Robert Dudley, the BP-backed chief executive of TNK-BP, survived a move by BP’s Russian partners in the oil venture to have him dismissed on Monday as the two sides dug in their positions ahead of a crucial board meeting this week.

Directors in TNK-BP Management, the management unit of TNK-BP, voted three to two against a motion launched by one of the billionaire Russian shareholders to dismiss Mr Dudley, an issue at the heart of a bitter corporate battle between BP and their Russian partners for control of the venture.

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