The Board of Directors of "Gazprom" today extended the powers of Alexey Miller as Chairman of the Management Board for another five years, TASS reported, citing a statement from the holding, BTA reports.
It is specified that Miller's new five-year term begins on May 31, 2026, while maintaining the terms of his current employment contract.
The 64-year-old Miller was born in Leningrad, now St. Petersburg, Reuters recalls in a brief report. In the period 1991-1996, he worked for the city's mayor's office, in the department for international cooperation, which at that time was headed by Vladimir Putin. He has been at the helm of Gazprom since 2001, a year after Putin was elected president.
In 2007, "Gazprom" was the world's third-largest company with a market capitalization of more than $330 billion. A year later, Miller said the company's market capitalization would reach $1 trillion within the next seven years.
However, in November 2023, "Gazprom"'s market capitalization fell to $43 billion, or less than that of its oil division, "Gazprom Neft," as the company reported that its gas exports had collapsed to their lowest level since the collapse of the USSR after Russian forces invaded Ukraine in February 2022. Last year, "Gazprom"'s gas exports pipelines to Europe amounted to only 18 billion cubic meters - a significant drop from 175-180 billion cubic meters per year in 2018 and 2019.