UGC head to step down in April - paper
MOSCOW. March 27 (Interfax) - The CEO of United Grain Company (UGC), Marat Shaidayev will leave the company in April, business daily Vedomosti reported on Monday, citing sources.
Shaidayev is seen as an associate of Summa Group owner Ziyavudin Magomedov, whose group owns 50% minus one share of UGC. Vedomosti sources said he was the person with whom UGC would begin a major investment program.
Shaidayev has carried out the objectives that shareholders set for the year, a Summa spokesman said. A person close to UGC said that Shaidayev had disagreed with Magomedov "on a number of fundamental issues." But the Summa spokesman said there was no conflict and Shaidayev has decided to work on his own projects.
Shaidayev became head of UGC in April 2016 and was confirmed in the position of CEO in September. He was the second person after former CEO and current Deputy Agriculture Minister Sergei Levin to be approved for this position by UGC's controlling shareholder. All other individuals who have headed the company were acting CEOs.