25 Apr 2019 15:49

Afanasyev not planning to leave financial sphere after stepping down as head of Moscow Exchange

MOSCOW. April 25 (Interfax) - Alexander Afanasyev, who will step down as the head of the Moscow Exchange on May 15, intends to continue working in the financial sphere.

"I'm not leaving the financial sphere. I'll be somewhere around here. You know it's a normal, good, healthy practice for public companies to rotate their management every five to six years on average, but I've already been here for seven years," he said in response to a question from a Moscow Exchange shareholder at the annual general meeting.

It emerged in mid-April that Afanasyev was leaving his post as the head of the Moscow Exchange, which he has held since June 2012. He will be replaced by Yury Denisov, who earlier held a top post at the exchange. Denisov will assume the post on May 16, and his contract will be valid until May 12, 2022.

The exchange said in a statement that Afanasyev is leaving his post "in connection with the early fulfillment of tasks envisaged in the exchange's current strategy."