Zaur Gahramanov Appointed to New Role at SOCAR Head Office

Zaur Gahramanov Appointed to New Position at SOCAR Headquarters Zaur Gahramanov, CEO of SOCAR Turkey, one of Turkey's largest foreign investors, has left his position after approximately 7 years to take on a new role at SOCAR Headquarters. Gahramanov, who has worked within the company for 15 years in various senior positions in Azerbaijan, Switzerland and most recently Turkey, will serve as Advisor to the SOCAR President. Elchin Ibadov, Chief Financial Officer of SOCAR Turkey Refinery and Petrochemistry Business Unit, has been appointed to serve as interim CEO in the position vacated by Zaur Gahramanov. According to the statement issued, Zaur Gahramanov began his professional career at KPMG working in the finance and tax departments, and continued his career at Ernst & Young. After working in performance management and finance at Statoil in Norway between 2004-2008, Gahramanov joined SOCAR in 2008 and served as CFO of SOCAR Trading SA in Switzerland until 2013. He was subsequently appointed Deputy Head of SOCAR Azerbaijan Investments Division, and since 2016 has served as CEO of SOCAR Turkey Energy A.Ş. Elchin Ibadov began his career in 2002 as a Research Specialist at World Trade Center Chicago. Starting in 2003, he held various positions at PwC for 11 years. Between 2014-2019, Elchin Ibadov served as Finance Director and CFO at STAR Refinery. He was appointed as CFO at Petkim in November 2019 and simultaneously served as Assistant to the Head of Refinery and Petrochemistry Business Unit responsible for Finance, a unit that includes companies of importance to Turkey's economy such as STAR Refinery, Petkim, SOCAR Fuel Storage and SOCAR Oil Trading. Ibadov is also a permanent member of international finance and audit organizations such as ACCA, ACFE and IIA.