TNK-BP has appointed Maxim Barsky, current executive vice president for strategy and business development, as the group's future chief executive.

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Mr Barsky's role will be effective from January 1st 2011. Until that time, Mikhail Fridman will continue to act as interim chief executive, in addition to his role as executive chairman of the TNK-BP board of directors.

Mr Fridman hailed the appointment of Mr Barsky as "a significant milestone" in the development of TNK-BP.

"It demonstrates that the shareholders are united on strategy, governance and support for the company's robust operational and financial performance," he said.

Mr Barksy is due to spend the first five months of 2010 working in various upstream businesses at BP and BP's head office in London to deepen his international and industry knowledge.

TNK-BP, which operates primarily in the western half of Russia, announced a net income of $1.7 billion (£1.04 billion) for the third quarter of 2009, up 34 per cent on the previous quarter.