Interfax reported that TNK-BP will start a search for new independent directors to replace former German Chancellor Mr Gerhard Schroeder and Mr James Leng who announced at a December 9 board meeting that they would be stepping down.

Mr Mikhail Fridman Executive Chairman is quoted in a company statement as saying that "I am very grateful to both Mr Schroeder and Mr Leng for the invaluable contributions they have made to the success of TNK-BP in their three years with the company. Their wisdom, experience, and vision will be impossible to replace."

TNK-BP said the company will begin a search for two new independent directors to join Alexander Shokin, the president of the Russian Union of Industrialists and Entrepreneurs on TNK-BP Ltd's board.

(Sourced from Interfax)