The Chairperson of Management Board and President of the public joint stock company Ventspils nafta Olga Pētersone has informed about resignation from the position in management of JSC Ventspils nafta. By decreasing the heavy workload, O.Pētersone will continue working in the Supervisory Councils for Ventspils nafta termināls Ltd and LatRosTrans Ltd, as well as the associated company JSC Latvian Shipping Company. Simon Boddy, Ilva Purēna and Normunds Staņēvičs continue working in the Management Board for JSC Ventspils nafta. O.Pētersone has held the office of Chairperson of Management Board/President of JSC Ventspils nafta since January 2004. Under the management of O.Pētersone JSC Ventspils nafta has faced many challenges and has had considerable success in the international fight of companies of JSC Ventspils nafta Group, by strengthening its development, ensuring stable operation and positive financial results, thereby furthering growth of JSC Ventspils nafta in value. The strongest evidence for that is the resolution adopted unanimously by shareholders of JSC Ventspils nafta on November 19, 2009 on payment of dividends in the amount of more than 50 million lats, by ensuring remarkable return of investments of every shareholder and by confirming both the successful work of the company's management in the previous years and the farsighted policy of planning financial resources. Representatives of the largest JSC Ventspils nafta shareholder - the international corporation Vitol Group - have expressed their gratitude towards O.Pētersone. “There is a saying that you have to leave at the best point - and I have a great feeling of satisfaction owing to the ensured opportunity of the company for all shareholders to receive what has been earned and saved up in the previous years. It was interesting and at the same time hard to work at JSC Ventspils nafta - there have been endless disputes between shareholders and unsubstantiated legal proceedings that JSC Ventspils nafta got involved in. In such circumstances, even the most excellent health might not endure, therefore I have decided to settle into a slower rhythm, by continuing working in Supervisory Councils of three companies of the Group,” emphasizes O.Pētersone. JSC Ventspils nafta is the central holding company in a transit-oriented Group whose task is to manage the investments in subsidiaries by promoting the Group's joint values and growth in the value of each subsidiary individually. JSC Ventspils nafta Group is working in the following areas: transshipment of crude oil and petroleum products; transport of crude oil and petroleum products by pipelines; a shipping business. JSC Ventspils nafta For further information - Gundega Vārpa, Public Relations and Advertising Manager, tel.: +371 67229182; e-mail: gundega.varpa@vnafta.lv www.vnafta.lv