March 01, 2013 16:00
Russian govt nominates 3 independent candidates to ALROSA supervisory board
MOSCOW. March 1 (Interfax) - The Russian government has nominated seven representatives and three independent candidates to the supervisory board of Russia's diamond monopoly ALROSA (RTS: ALRS) for election at the annual general meeting this summer.
Russian Prime Minister Dmitry Medvedev signed the relevant order on February 27.
The independent candidates (unlike government representatives, they do not vote according to government directives) nominated to the supervisory board include: chairman of the supervisory board at VTB (RTS: VTBR) Sergei Dubinin, Vimpelcom (RTS: VIMP) Vice President Pavel Borodin and head of the Russian Union of Industrialists and Entrepreneurs (RUIE) Alexander Shokhin.
In the draft government order prepared by the Economic Development Ministry regarding candidates to ALROSA's supervisory board, former head of the IPO services group at Ernst & Young's Transaction Advisory practice Michael Lynch-Bell was nominated. However, he did not end up on the final list, nor did First Deputy Chairman of Vnesheconombank (VEB) Anatoly Tikhonov.
Those who were re-nominated by the government included: member of Nomos-Bank's (RTS: NMOS) supervisory board Ilya Yuzhanov (the current chairman of ALROSA's supervisory board), ALROSA President Fyodor Andreyev, Department Director at the Finance Ministry Sergei Barsukov and EBRD Director from Russia Denis Morozov, who is the ex-head of MMC Norilsk Nickel (RTS: GMKN) and Uralkali (RTS: URKA).
Newcomers to the list of government representatives are: ex-chief of Russia's Standard Bank and the head of Astor Capital Yury Voytsekhovsky; Executive Director for Strategy, Investments and Communications at Uralsib (RTS: USBN) Igor Kozlov and advisor to the head of Russia's Federal Property Agency (Rosimushchestvo) Oleg Fyodorov.
Deputy Chairman of the Management Board at Rusnano Yakov Urinson, who currently has a seat on ALROSA's supervisory board, has been left off the list of government representatives.
There are 15 people on ALROSA's supervisory board, 12 of whom are representatives of the Russian and Yakutian governments, two of whom are independent directors and the final of whom is ALROSA's Vice President Ivan Demyanov.
Rosimuschestvo holds 50.92% of ALROSA's shares, Yakutia's Property Relations Ministry owns 32%, eight districts of Yakutia own 8% and individuals and corporate bodies own the remaining 9.07%, including ALROSA subsidiaries more than 2%. Reports say Suleiman Kerimov's Nafta Moskva bought 1% at the end of last year. ALROSA management owns 0.18%, including company president Andreyev with 0.11%, Vice President Sergei Pushkin with 0.05% and Vice President Yury Okoyemov with 0.007%.
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