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Gazprom Neft reinstates the chief exec it replaced less than a week ago

RUSSIAN oil and gas giant Gazprom yesterday did a U-turn over its plans for Aim-listed Sibir Energy, re-appointing Stuard Detmer as chief executive of the firm just days after replacing him with a candidate from its own legal team.<br /><br />Sibir said in a statement it had re-appointed Detmer at the request of the group&rsquo;s oil arm Gazprom Neft.<br /><br />Igor Tsibelman, the Gazprom Neft representative who was named chief executive on Thursday, was demoted to deputy &ldquo;to ensure the seamless transition of the management&rdquo;.<br /><br />The move is understood to be a temporary one, with Tsibelman due to take the helm again within a matter of weeks. Detmer will then stand down to become a non-executive director as planned.<br /><br />Gazprom Neft is in the process of sweeping up the stakes of Sibir&rsquo;s smaller shareholders, giving it effective control of the company.<br /><br />It struck the deal to acquire the shares after Sibir became embroiled in scandal over controversial property deals conducted in October last year with Chalva Tchigirinski, one of its major shareholders.