Russian shareholders in TNK-BP threaten action against CEO

The billionaire Russian shareholders in oil major TNK-BP are threatening to seek damages of hundreds of millions of dollars against the firm's CEO, Robert Dudley, according to a report in Britain's Daily Telegraph.

The Russian shareholders in the AAR consortium claim Dudley approved investments that they opposed, and say they reserve the right to take action against him personally.

The Telegraph says AAR is anticipating Dudley's departure from Russia next week when his visa expires, and is making preparations to take over running the company.