The former Chairman of the Management Board of Petro Welt Technologies AG, Yury Semenov, has resigned from the Management Board of PeWeTe AG with effect from today. In place of Yury Semenov, the Supervisory Board has appointed Denis Stankevich to the company's Managing Board with immediate effect and appointed him as its new Chairman. Denis Stankevich has many years of experience and excellent knowledge of the Russian and international oil and gas business. He held a leading position at a large, listed company in the petroleum industry, ending with the position of Vice President for Economics and Finance.