(Adds detail, background.)
By James Herron and Alexander Kolyandr
Of DOW JONES NEWSWIRES
LONDON -(Dow Jones)- Maxim Barsky, the former managing director of Russian oil company West Siberian Resources, has emerged as a clear favorite to become the next Chief Executive of TNK-BP Ltd., BP PLC's (BP) joint venture with a group of Russian billionaires, people close to the company told Dow Jones Newswires Tuesday.
The appointment of TNK-BP's new chief executive could come as early as Friday Nov. 13, the date of a regularly scheduled company meeting, although the appointment has yet to be decided and may come later, three people close to the company said.
A spokesman for BP said it is very important to get the right candidate for the job and the selection process continues.
Barsky is currently executive vice president of TNK-BP's strategy and business development. "He is clearly favorite within the company and with both groups of shareholders, primarily because of his oil industry experience," one of the people said.
The other candidate is Pavel Skitovich, former executive at gold miner Polyus Gold (PLZL.RS), who is TNK-BP's executive vice president responsible for planning and performance management. Both men were appointed in May with the intention of picking one as chief executive.
It is likely there will be a transition period of several months to ensure the new chief is fully prepared to take over the role, two of the people said. During this period, the current Chief Executive Mikhail Fridman, who is also a major shareholder in TNK-BP, will remain in charge, they said.
The new chief executive will be the first person to permanently occupy the role since Robert Dudley was forced to leave Russia in July 2008, claiming sustained harassment from Russian authorities after running into visa difficulties during a bitter dispute between BP and the Russian shareholders over control and strategy.
Dudley, a BP man, stepped down as chief executive in September 2008 as part of an agreement that resolved the dispute, but was widely seen to have to have ceded power from BP to the Russian billionaires. The ascension of Fridman to the position of chief executive in May cemented that control, analysts said.
-By James Herron and Alexander Kolyandr, Dow Jones Newswires; +44 (0)20 7842 9317; james.herron@dowjones.com