Creditors asking Transaero board to replace CEO - sources
MOSCOW. Oct 21 (Interfax) - Six banks that are creditors of Transaero are asking the Russian airline's board of directors to replace the company's chief executive at a meeting on October 22, three sources close to creditors told Interfax.
They said the banks sent a letter to Transaero board chairman Olga Pleshakova asking that the board replace the CEO. The letter, a copy of which has been obtained by Interfax, was signed by Absolut Bank , Novikombank , Moscow Industrial Bank , Credit Bank of Moscow (CBM) , IFC Bank and BFA Bank .
The press services of Absolut Bank, CBM, Novikombank and IFC confirmed that such a letter was sent, but did not comment on its contents. Interfax was unable to obtain official comments on the matter from the other signatories.
In the letter, the creditors propose Alexander Burdin, who formerly worked at aluminum giant UC Rusal , as a candidate for CEO of Transaero.
"Significantly, Burdin is not affiliated with either the company's shareholders or its competitors," the letter states. It also states that the airline is now headed by Dmitry Saprykin, who also services on the management board and board of directors of rival Aeroflot Russian Airlines . This state of affairs violates the norms of corporate law, since Aeroflot has already declined to buy Transaero, the letter states.
The six creditors see Burdin as a suitable independent candidate, two sources told Interfax.
"We don't need an aviator right now, but more of a crisis manager who will talk to creditors," one source said.
Pleshakova said on Twitter on Tuesday evening that the airline's board would consider the letter from the six creditor banks at its next meeting.
Burdin worked at Rusal from 2000 to 2011. The company said he left Rusal in the position of packaging production director. He subsequently worked at Unitile, a ceramics manufacturer.