Russian Ministers Ready To Vacate Corporate Posts

The Russian government says it is ready to see independent directors, rather than ministers and other senior officials, serving on the boards of state companies.

First Deputy Prime Minister Igor Shuvalov, speaking on a television news program on April 2, said state officials who are currently serving on company boards are set to vacate their posts by July 1.

His comments follow a call by Russian President Dmitry Medvedev to end what he called the “excessive influence” of state companies on Russia’s investment climate.

The officials due to be removed from their posts include Deputy Prime Minister Igor Sechin, who currently chairs the state-run energy firm Rosneft, and Energy Minister Sergei Shmatko, who sits on the boards of four state companies, including energy giant Gazprom.

compiled from agency reports

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