Etalon Group CFO Svetlichny stepping down
ST. PETERSBURG. July 15 (Interfax) - The chief financial officer of Russian property developer Etalon Group, Boris Svetlichny, is resigning from his position for family reasons with effect from August 1, 2016, the company said in a press release.
Etalon Group CEO Anton Evdokimov will take control of financing strategy, budgeting, accounting, and finance team management, it said.
Kirill Bagachenko, the head of Etalon Group's Corporate Investments and IR, will oversee capital markets, M&A, IFRS reporting, as well as investor relations duties.
"The company's experienced finance team remains intact, ready to carry out day-to-day business activities, and will ensure continuity in implementation of the duties previously held by Mr. Svetlichny," the company said.
Etalon Group President Viacheslav Zarenkov praised Svetlichny's contribution to the company's successful development. "He oversaw the implementation of key projects such as further improvements to our budgeting process, reporting, and a cost optimization program. Each of these has helped strengthen the Company and make us more efficient. I am sure that with his deep knowledge of Etalon Group's business, Boris will continue to provide valuable contributions to the Company as a member of the Board of Directors and Audit Committee."
Housing and commercial developer Etalon Group, whose lead company is LenSpetsSMU from St. Petersburg, is one of the biggest construction enterprises in northwestern Russia. Zarenkov and members of his family are the chief beneficiaries.