Abramovich quits as Chukotka governor

Russian billionaire Roman Abramovich has quit as governor of a remote far eastern region, RIA Novosti quoted a Kremlin statement today. Russian President Dmitry Medvedev has signed a decree accepting his resignation, the Kremlin said. Abramovich quits as Chukotka governor Abramovich's spokesman said the businessman would continue investing in the region's development after his resignation. Chukotka governor since 2000, Abramovich, 42, has been credited for lavishly investing in the sparsely populated Chukotka autonomy, a gold and coal-producing region about two times the size of Germany, the Russian news agency reported. Media said earlier that Abramovich, owner of Chelsea FC, who mainly resides in London, had been keen to resign for some time, including in 2006 when he pledged to continue investment programs in the region, but then president Vladimir Putin insisted he stay. Putin earlier said he highly valued Abramovich's work to improve living standards in the region. The businessman is ranked the country's second richest man by Forbes magazine with an estimated USD 23bn, second only to metals oligarch Oleg Deripaska.

Abramovich quits as Chukotka governor

Abramovich's spokesman said the businessman would continue investing in the region's development after his resignation.

Chukotka governor since 2000, Abramovich, 42, has been credited for lavishly investing in the sparsely populated Chukotka autonomy, a gold and coal-producing region about two times the size of Germany, the Russian news agency reported.

Media said earlier that Abramovich, owner of Chelsea FC, who mainly resides in London, had been keen to resign for some time, including in 2006 when he pledged to continue investment programs in the region, but then president Vladimir Putin insisted he stay.

Putin earlier said he highly valued Abramovich's work to improve living standards in the region.

The businessman is ranked the country's second richest man by Forbes magazine with an estimated USD 23bn, second only to metals oligarch Oleg Deripaska.