Industry minister elected chairman of United Shipbuilding Corp
MOSCOW. Sept 17 (Interfax) - Industry and Trade Minister Denis Manturov was elected chairman of the board of directors of United Shipbuilding Corporation (USC) on Tuesday, the state company said in a statement.
The previous USC board chairman was Sergei Frank, CEO of shipping company Sovcomflot.
USC president Alexei Rakhmanov was quoted as saying that Manturov's appointment to the post was "natural" and sees it as "another step, adding clarity and effectiveness to cooperation between the corporation and the ministry that oversees it."
"Essentially, this decision will structurally reinforce the current practice of inclusion in issues of USC's management," the statement said.
The company said that its management and officials at the Industry and Trade Ministry have established "long-term, productive relations, built on a common understanding of the role and objectives of USC in the structure of the Russian economy."
Bolstering the management bodies of major Russian corporations with high-ranking officials is "constructive" for USC and "has the utmost importance for the economic and military security of the country," the company said.