Apparatchiks to return to Russian state firms' boards-paper

MOSCOW Tue Dec 4, 2012 2:12pm IST

Related Topics

Stocks

   

MOSCOW Dec 4 (Reuters) - Dmitry Medvedev's cabinet plans to name officials as directors of Russian state firms, less than two years after he ordered a boardroom purge to reduce state involvement in the economy, the Kommersant daily reported on Tuesday.

According to a preliminary list of board candidates, drafted by the state property agency and cited by Kommersant, more than 70 percent of all state firms will either see officials return to their boards or their number increase.

Then-President Dmitry Medvedev booted top government officials off the boards of state companies in a wide-ranging clearout in early 2011, with Igor Sechin, chairman of state oil major Rosneft the highest-profile casualty.

Sechin has since taken over as chief executive of Rosneft, and is in the process of completing a $55 billion takeover of Anglo-Russian oil firm TNK-BP which would make the state oil major the world's largest listed oil firm by output.

Medvedev moved to the position of prime minister in May of this year, following the election of Vladimir Putin, his political mentor, to the presidency after a four-year stint as prime minister.

Putin's return to the Kremlin ended an interlude of liberal economic reforms during the Medvedev presidency, with Rosneft's acquisition of TNK-BP showing that state capitalists are in the ascendant, say analysts.

Kommersant wrote that three government officials - Deputy Economy Minister Sergei Belyakov, Deputy Regional Development Minister Vladimir Kogan and Deputy Energy Minister Pavel Fyodorov - may replace senior managers on the board of state gas export monopoly Gazprom on its board.

Two officials, including Deputy Energy Minister Mikhail Kurbatov, may join the boards of power firms Rushydro and Inter RAO. Kurbatov is also expected to join MRSK Holding and Federal Grid Co (FSK), while former Energy Minister Sergei Shmatko may become their chairman.

No comment was immediately available from the government on the report. The state property agency declined to comment.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Canada Shooting

Canada Shooting

Canada's parliament attacked, soldier fatally shot nearby.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage