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  Thursday, December 12, 2019
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The Russian government has nominated candidates to sit on the boards of directors and auditing commissions of joint stock companies as state representatives
The Russian government has nominated candidates to sit on the boards of directors (supervisory councils) and auditing commissions of joint stock companies as state representatives, the government's press office said Monday. Russian Prime Minister Mikhail Fradkov signed the relevant resolution on nominating state representatives for 44 joint stock companies, the press office said. In accordance with the document, the government nominated candidates to the boards of diamond producer Alrosa, the Ilyushin Finance aircraft leasing company, truck maker Kamaz, Rosneftegaz (a subsidiary of state-run oil company Rosneft), the Ilyushin Aircraft Making Company, the Moscow-based Moskvich auto maker and others. In particular, the Russian government nominated five candidates to the board of directors and the auditing commission of Rosneftegaz. Rosneft President Sergei Bogdanchikov, department head of the Federal Property Management Agency Gleb Nikitin, deputy head of the Kremlin administration Igor Sechin, deputy head of the Federal Energy Agency Rosenergo Yevgeny Terpugov, and board member and department head of natural gas monopoly Gazprom Konstantin Chuychenko, were recommended as state representatives on the Rosneftegaz board of directors. Rosneftegaz was created as a special vehicle to fund a complicated scheme allowing the state to raise its stake in natural gas monopoly Gazprom to a controlling interest. The government paid 203.5 billion rubles (about $7.11 billion) to acquire shares from Gazprom's subsidiaries.
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