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Russian tycoon unexpectedly quits as CEO of TNK-BP

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Russian tycoon Mikhail Fridman on Monday unexpectedly announced his resignation as chief executive of TNK-BP, a sign of rising tensions between shareholders at the Russian venture of British company BP.

TNK-BP, which is owned in equal parts by BP and a group of Russian billionaire shareholders known as AAR, said in a statement that Fridman is due to step down as CEO and chairman of the board in 30 days. It did not specify the reason, but BP's representative in Russia, Vladimir Buyanov, cited "personal reasons."

Fridman is considered one of the most influential people in the venture. He has been at TNK-BP's...

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