Alekperov decided not to transfer control overf LUKOIL to his son

Vagit Alekperov believes that his son Yusuf will not be able to manage LUKOIL, and is still looking for a successor. Earlier, Alekperov said that Yusuf could be brought to the management of LUKOIL, if an internship was held.
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The head of LUKOIL Vagit Alekperov in an interview with Bloomberg TV spoke about the risks of working in Russia and about his future successor.

Today in Russia for LUKOIL "there are risks from internal competition", as well as risks due to sanctions of Western countries, Alekperov said.

According to Alekperov, he is not worried about the possibility that the head of Rosneft Igor Sechin may be interested in buying LUKOIL. "I do not worry about this today," said the head of LUKOIL, noting that the president and the government of Russia "consider that today there is enough state presence in the industry," Bloomberg reports.

Nevertheless, in the next 3-5 years, Alekperov plans to remain at the head of the company, as he "is easier to overcome risks in Russia than to anyone else". During this time he will also prepare a successor. "If they ask me if I think about my successor, yes, of course, I think about it. I hope that he will be a worthy candidate who will continue the work of my life. If they ask me if this is my son, I will say no, because this work is too complicated to give to my son, but he will remain in this business, "Alekperov said.

Earlier in an interview with RBC Vagit Alekperov said that before attracting his son - Yusuf - to manage the company, he must undergo training in a large Western company. "In Western Siberia, he has already worked more than two years. The principle is understood. I understood how people produce oil, repair wells, smelled oil, "Alekperov said. He noted that he did not aim to make his son a successor.

Yusuf Alekperov was born in 1990, in 2012 he graduated from the University of Oil and Gas named after Gubkin, specializing in the development and operation of oil fields. Yusuf Alekperov owns a 0.13% stake in LUKOIL. In 2013, Vagit Alekperov bequeathed his son a stake in LUKoil, provided that he will not sell or split his share.

According to Forbes, Vagit Alekperov is the sixth richest man in Russia with a fortune of $ 14.5 billion. His main asset is a 23% stake in LUKOIL.