Russia's two top energy officials, Deputy Prime Minister Igor Sechin and Energy Minister Sergei Shmatko, Friday failed to be re-elected to the board of state electricity monopoly InterRAO (IRAO.RS).
Russia's two top energy officials, Deputy Prime Minister Igor Sechin and
Energy Minister Sergei Shmatko, Friday failed to be re-elected to the board of
state electricity monopoly InterRAO (IRAO.RS).
The move follows President Dmitry Medvedev's order earlier this year to remove
top government officials from state company boards.
Sechin, who was chairman at InterRAO, and Shmatko were both candidates for
reelection to the board at the company's annual shareholder meeting on Friday,
but were not reelected, an InterRAO spokesman said.
The powerful Sechin, who oversees the country's energy sphere, has already
stepped down as chairman of state oil champion OAO Rosneft (ROSN.RS)
In a bold and unexpected move, Medvedev last month ordered Prime Minister
Vladimir Putin to replace senior government officials with independent
directors, as he hopes to improve the country's investment climate amid a $35
billion privatization program.
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