The company announced Friday that the former German chancellor would be stepping down from the board after falling into disgrace following Russia's invasion of Ukraine.

Ex-Chancellor Schröder at hearing in the Economic Committee

German chancellor from 1998 to 2005 has been much maligned over his Russian ties.

dpa/picture alliance via Getty Images

The company said in a statement that Warnig informed the company of his exit from the board.

It is sympathetic to their resignations, and thanks the two Germans for their continued support.

The resignation of the former chancellor of Germany comes a day after the German government stripped him of some special rights.

According to the Wall Street Journal, four vice presidents are leaving the company.

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Russia's second-largest company by market cap is Rosneft, which is owned by the Russian government. Three days after Russia invaded Ukraine, the British oil giant said it would exit its stake in the Russian oil company. He acknowledged in a post that the West may have prodded Putin into ordering the invasion. Several members of the German office staff quit their jobs in March over his refusal to back down from his Russian business interests.

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The largest company in the country by market cap is Gazprom, a state-owned Russian energy titan. The company nominated him to join the board on February 4.

The man who became Putin was the former Chancellor of Germany.

The Washington Post reported that the former German chancellor lost perks when he resigned from the Russian firm.

Why is the former chancellor of Germany staying with Russia? The Economist.