Schröder to join TNK-BP board

Gerhard Schröder, the former German chancellor, is to become an independent director of TNK-BP, the Anglo-Russian joint venture, as part of a peace deal to resolve the conflict between its shareholders. The appointment reflects Schröder’s close ties to Russia, which have been highly controversial in Germany. He met Russian prime minister Vladimir Putin in Moscow this week. BP of the UK and the Alfa-Access-Renova group of Russian tycoons fought a bitter battle for control of the venture last year that was resolved with a deal agreed in principle in September.