NEW YORK (AP) — Valery Gergiev has been appointed principal conductor of the Munich Philharmonic starting with the 2015-16 season.

Gergiev, who appeared at a news conference Friday in Munich, agreed to a contract through the 2019-20 season. He will succeed Lorin Maazel, who took over last year from Christian Thielemann.

In addition, the 59-year-old Gergiev remains artistic director of the Mariinsky Theatre in St. Petersburg, Russia, a position he has held since 1988. He intends to give up his post as principal conductor of the London Symphony Orchestra at the end of the 2014-15 season, but plans to conduct the LSO in some projects after that.