Leadership Change Amidst Sanctions: Nayara Appoints New CEO
Nayara Energy, under EU sanctions, appoints Teymur Abasguliyev as CEO, replacing European national Alessandro Des Dorides. Abasguliyev, an Azerbaijani national and current CFO at SOCAR Turkiye Enerji A.Ş, steps in following Des Dorides' resignation post-EU sanctions related to Russia's Ukraine conflict, affecting several Nayara officials.
- Country:
- India
In a significant leadership transition, Nayara Energy has appointed Teymur Abasguliyev as its new CEO. This move comes after European national Alessandro Des Dorides resigned in the wake of EU-imposed sanctions targeting the company.
Abasguliyev, an Azerbaijani with a solid financial background as the CFO at SOCAR Turkiye Enerji A.Ş., was confirmed as CEO by the Nayara board, according to sources knowledgeable about the proceedings.
The leadership change follows the European Union's sanctions against Nayara, part of a broader strategy to weaken Russia's financial base amid the ongoing Ukraine conflict. With several European nationals stepping down, Nayara and its stakeholders continue to critique the sanctions' impact on India's energy landscape.
(With inputs from agencies.)
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