/world business
MOSCOW, Russia (AP) -- The head of a Russian shareholders' consortium in the TNK-BP joint venture says the company's directors have voted to retain Robert Dudley as chief executive.
The Anglo-Russian company is Russia's third-largest oil producer and for months has been buffeted by a battle for control. The Russians who own half of its stock want Dudley out.
The Monday vote by the board of directors leaves the shareholders in deadlock. The other 50 percent of the company is owned by Britain's BP.
The head of the Russian shareholders' consortium Alfa Access Renova, Stan Polovets, says the directors voted 3-2 on Monday to retain Dudley.
Polovets says the result is not surprising as three of the five board members were appointed by Dudley.
Copyright 2008 The Associated Press. All rights reserved.This material may not be published, broadcast, rewritten, or redistributed.
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