TNK-BP chief survives another removal bid

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Date: Monday 07 Jul 2008

LONDON (ShareCast) - The chief executive of BP’s Russian joint venture TNK-BP has survived the latest attempt to oust him from the board.

BP’s Russian co-partners at the group were seeking to remove Robert Dudley at an emergency meeting today but the TNK-BP Management voted "no" to the demands to sack Dudley.

Another attempt to get rid of Dudley could be made on Friday when TNK-BP International holds its own board meeting on Friday.

The Russians feel TNK-BP’s poor performance has been down to Dudley and also accuse him of being too close to BP, while BP has defended Dudley and said the firm’s performance has been good compared with its peers.

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