Prime Minister Dmitry Medvedev made the announcement at a meeting with Sechin, part of which was televised.
Sechin, who until recently served as deputy prime minister, is considered the most influential man in Russia’s energy industry. A close ally to President Vladimir Putin, he personally oversaw all major energy agreements in Russia including the multi-billion Arctic deals between Russia, ExxonMobil and Eni and Statoil. The oil industry has credited him for lobbying for privileges for their companies and projects.
Sechin replaces Eduard Khudainatov, who has served as the chief executive since September 2010. Khudainatov, who retains the post of the company’s president, had been regarded as more of a technical figure reporting to Sechin.