Russian oil giant Lukoil said Friday that Vagit Alekperov had resigned from his position as the President of Lukoil and from Lukoil's board of directors.
"The respective notices of resignation were sent today to the chairman of the company’s board of directors," Lukoil said in a brief statement, without providing reasons behind the decision.
The company also said that as of March 31, 2022, Vagit Alekperov owns and votes 3.12% of shares in Lukoil, and that he is also a beneficiary, including through family trusts or mutual funds, of 5.43% of shares in Lukoil, in respect of which he has no voting rights.
"Therefore, Vagit Alekperov is not a controlling shareholder of PJSC LUKOIL," Lukoil said.
According to Forbes, Alekperov, 71, a former Caspian Sea oil rig worker, is the world's 90th wealthiest person, with his net worth estimated at $19.3 billion as of April 21, 2022.
Worth noting, Alekperov, along with 177 other Russians was sanctioned by the UK government on April 13, in what the UK government said were sanctions "targeting those who prop up Russian-backed illegal breakaway regions of Ukraine."
The UK government said at the time that Alekperov's net worth was reported to be an estimated £18 billion (around $23,5 billion). The UK sanctions against Alekperov include a travel ban and asset freeze.
