Roles of the Board members

The CEO, being the sole executive member of the Board, is responsible for the day-to-day management of the company, being also in charge of reviewing, defining and submitting strategic options that may contribute to the development of the company and its subsidiaries. 

CEO is authorized to independently represent the Group, with the possibility to delegate his managing function for certain operations or categories of operations to certain third parties. 


The non-executive members of the Board mainly have the following duties: 

  • to participate in determining the strategy and general policies of the company; 

  • to supervise the management position and the general affairs of the company and its subsidiaries. 

In support of its activity, the Board of Managing Directors established specialized committees, such as the Audit Committee, the Appointment and Remuneration Committee, the Strategy and Innovation Committee and the Finance and Investment Committee. 

Management Structure

The company has a unified management system, including 5 (five) Managing Directors of which one executive (the Chief Executive Officer – CEO) and 4 Non-Executive Managing Directors.

The non-executive managing directors include one independent who is of paramount importance from Corporate Governance perspective, as he provides well-grounded opinions in his area of expertise in support of management decisions, offering as well an increased protection of the interests of shareholders and other stakeholders and an adequate guarantee for third parties. 

The unified management system existing at the level of KMG International N.V. is mirrored at the level of the Group’s subsidiaries. 


Mr. Azamat Zhangulov has a career of over 20 years in the oil and gas industry. He served as Senior Vice President of KMG International between 2012 – 2016, overseeing the implementation of the Group long-term strategy as well the CEO of the Group from 2nd of March until 7th of June 2022.

His extensive professional experience includes various senior positions in KMG Group, being involved in the corporate development, investments, retail operations and overseas project management initiatives and projects.
Mr. Zhangulov graduated the Kazakh State Academy of Management majoring in International Economics, being specialized in the Oil and Gas Business.


Executive Managing Director
Mr. Ilyas Kuldzhanov is also the Chief Executive Officer of KMG International Group.
He has more than a decade experience in the oil and gas sector and previously occupied various management positions in the Kazakhstan Sovereign Wealth Fund - Samruk-Kazyna, KazMunayGas, Petroleum Operating, and Citigroup.

During 2013 and 2014, he was the advisor to the General Manager of KMG International, being familiar both with the activities and operations of the Group, but also with the particularities of the sector in Romania and in the region.
Ilyas Kuldzhanov graduated from the Omsk State University specializing in International Economics, Moscow State University for International Relations with a specialization in International Economic Relations, Kazakhstan-British Technical University - specialization in Petroleum Engineering and he is currently enrolled as a Ph.D. in the same field at the Nazarbayev University, Nur-Sultan, Kazakhstan.


Non-Executive Managing Director

Mr. Karabayev is currently holding the position of Deputy Chairman of the Management Board for Economics and Finance within the JSC NC KazMunayGas. He held different managerial positions within the National Company starting 2016, as Executive Vice President - Chief Financial Officer and Deputy Chairman of the Management Board - Chief Financial Officer.

Mr. Karabayev has an extensive financial experience in many companies, having different responsibilities in roles such as: Head of credit management at "ABN AMRO Bank Kazakhstan" JSC, Deputy Chairman of the Board of "Halyk Bank of Kazakhstan" JSC where he used to supervise extensive teams and departments. In 2016, he was a Project Supervisor at McKinsey & Company Inc, providing consulting services within projects and coordinating teams of consultants on different projects.

He graduated from the Kazakh State Academy of Management in 1999 with Bachelor degree in International Economic Relations. In 2001 obtained Master of Finance degree from Texas A & M University, Lowry Mays School of Business.

Has been awarded "Honored Financier" of the Kazakhstan’s Association of Financiers and also the anniversary medal "20th Anniversary of the Constitution of the Republic of Kazakhstan."


Independent Non-Executive Managing Director

Mr. Emile Wolff has over 20 years of experience in consulting services in areas such as project management in the oil industry, technical maintenance, engineering, innovations and IT systems. At present, he runs his own company, Emile Wolff B.V., providing consulting services, with focus on: project & program management, post-merger integration, innovation, business management and improvement, mentoring/coaching. He has been a member of the Board of Directors of KMG International N.V. since November 2014.

Mr. Wolff was born in 1950 in Amsterdam, The Netherlands. He graduated from Delft Technical University, The Netherlands, and majored in industrial engineering. He is a member of the Royal Dutch Society of Engineers.


Non-Executive Managing Director

Mr. Arman Saulebay has graduated in 2004 the Kazakh Humanities and Law University, in Astana, Faculty: Jurisprudence followed by Kazakh National Technical University, in Almaty, Faculty: Economics and Management. He also added various advanced training courses and seminars to his educational background in areas such as project management, strategic management system, effective corporate governance, structuring international business and corporate acquisitions, financial and economic modeling.

Mr. Saulebay gathered extensive experience in managerial positions mainly within oil and gas companies: NC KazMunayGas JSC, Karagandy CCI LLP, KMG Global Solutions B.V., KazMunayGas Refining, and Marketing JSC, TH KazMunaiGaz N.V. He had various responsibilities in areas like asset management restructuring, implementation of M&A projects, management of the department of strategy, risk management and transformation, implementation of development projects for the oil-refining sector, including coal and petrochemical projects.