New Forwarding Company appoints new CEO

MOSCOW. June 5 (Interfax) - Valery Shpakov is stepping down as CEO of JSC New Forwarding Company (NFC), the company said.

Shpakov has been with NFC since its founding in 2003 and has served as CEO since 2007.

Kirill Prokofiev has been appointed the new CEO of NFC and will also continue in his role as CEO of BaltTransServis LLC, the company said.

NFC is one of the largest enterprises in the Russian rail freight transportation market. The company specializes in transporting the products of metallurgical and mining and processing plants using gondola cars. The company's total fleet includes about 47,700 railcars, of which approximately 43,500 are gondola cars (as of December 31, 2024). In 2024, NFC transported 50.7 million tonnes of cargo.

Until mid-spring 2025, 100% of NFC shares were controlled by the railway group Globaltrans Investment PLC, which in April transferred all its railway assets, including NFC, to the management company of the closed-end mutual investment combined fund Transatlant.