Russian media mogul nominates 15-month old son for airlines board

Big News Network (ANI)
Thursday 28th February, 2013

Russian banking and media mogul Alexander Lebedev has dropped opposition firebrand Alexei Navalny from a list of nominees for the board of Russia’s flagship air carrier, Aeroflot, and instead recommended his own 15-month-old son, Yegor, for the job.

According to a press release from Aeroflot, in addition to his baby son, Lebedev recommended Sergey Aleksashenko, an economist at Moscow’s Higher School of Economics who has served on Aeroflot’s board before, and Andrey Monoylo, chairman of the National Reserve Bank, reports the Wall Street Journal.

Lebedev tweeted, saying that the moral of the joke is that the boards of state companies have practically no power, so why have adults there.

Lebedev recently said he had sold part of his stake in Aeroflot and now owns just 4.77 percent of the company, down from 15 percent a year earlier, so he is unsure if he would be able to secure a seat on the board for any of his nominees.

Navalny, an influential blogger who became a figurehead of anti-Kremlin street protests last year, was elected to the Aeroflot board last June after being nominated by Lebedev who argued that corporate governance at the airline could only be improved by independent oversight.

In January, Lebedev said he did not plan to re-nominate Navalny because “he has not asked about it and now has other plans”.

In total, there were 14 nominees to the board, of which only 11 will be chosen at a shareholders meeting in late June. (ANI)

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