15th Nov 2013 11:54
FSK Board of Directors Elects Oleg Budargin as Chairman
Moscow, 15 November 2013- Federal Grid Company of Unified Energy System ("Federal Grid Company" or "the Company") (Moscow Exchange, LSE: FEES), part of the Russian Grids Groupof companies and operator of Russia's unified electricity transmission grid system, announces that the Board of Directors on 14 November 2013 elected Oleg Budargin as its Chairman.
Vyacheslav Kravchenko was elected Deputy Chairman of the Board of Directors of Federal Grid Company.
Biographical information:
Since June 2013 Mr. Budargin has been the CEO of Russian Grids Group. Prior to this, from October 2009 to November 2013, he was the Chairman of the Management Board of Federal Grid Company. Before joining Federal Grid Company he was the Assistant to the Plenipotentiary Representative of the President of the Russian Federation in the Siberian Federal Region from 2007. Mr. Budargin served as the Governer of the Taimur (Dolgano-Nenets) Autonomous Region for the period 2003-2006, and from 2000 to 2002 he was the head of the city of Norilsk. In 1997 he served as a deputy in the Taimur regional legislative council. Oleg began his career in 1984 with the Norilskstroy Production Construction and Assembly Association, the Promstroy Trust of the Norilsk Mining and Metallurgical Works, and then in 1995 he was appointed as the Deputy Director General of JSC Norilsk Mining and Metallurgical Works.
Oleg Budargin is a member of the Russian Presidential Commission for Strategic Development of the Fuel and Energy Sector and Environmental Security.
Mr. Budargin graduated cum laude in 1982 from the Norilsk Industrial Institute with a degree in Industrial and Civil Engineering. He was born 16 November 1960.
Enquiries:
Contacts | ||
Analysts / Investors | ||
Federal Grid IR team | Work |
|
Alexander Duzhinov | +7 (495) 710 9064 |
|
Nadezda Sukhova | +7 (495) 710 9541 |
|
Egor Toropov | +7 (495) 710 9333 ext. 2275 |
|
Vladimir Baklanov | +7 (495) 710 9333 ext. 2926 |
|
| ||
International Media | ||
EM | Work | Mobile |
Tom Blackwell | +7 (495) 363 2841 | +7 (919) 102 9064 |
Sam VanDerlip | +44 20 7920 2356 | +44 7554 993 032 |
About Federal Grid Company
Federal Grid Company is part of OJSC Russian Grids is the operator and manager of Russia's unified electricity transmission grid system. The company operates over 131,000 km of transmission lines and has over 334.8 GVA of installed transformer capacity. Based on the length of transmission lines and transformer capacity in place, Federal Grid is the largest publicly traded electricity transmission company in the world.
Federal Grid's business is to provide electricity transmission and technological connection services.It maintains and develops the grid system and supervises grid facilities and infrastructure in75 regions of Russia, covering a territory of 14.8 million square kilometres. Its customers are regional distribution companies, electricity suppliers and large industrial enterprises. The Company is a natural monopoly with 80,6% stake controlled by Russian Grids.
Federal Grid Company was incorporated in June 2002 as part of reorganisation of Russia's electrical power industry.
Federal Grid Company's common shares are included on Moscow Exchange under the ticker FEES and the Company's GDRs are listed on the London Stock Exchange and traded under the same FEES symbol.
In 2012 the Company's IFRS consolidated revenue was RUB 140,313 million, while adjusted EBITDA was RUB 82,133 million, and adjusted profit for the period was RUB 29,956 million.
Further information can be found at www.federal-grid.com
Further information about Russian Grids can be found at www.rugrids.ru/eng
Related Shares:
FEES.L