Former Morgan Stanley exec replaces UFG founder on Sovcomflot board
MOSCOW. July 1 (Interfax) - The shareholders of Sovcomflot (SCF), Russia's largest shipping company, elected Chammah and Partners partner Walid Chammah to the company's board of directors at their annual general meeting on Monday, SCF said in a statement.
Chammah will replace the founder of investment bank UFG, Charles Ryan on the board of SCF, which is wholly owned by the state. Another prominent financier, Marlen Manasov, former head of Brunswick UBS and UBS Securities, is also leaving the board. He will be replaced by Ivan Glumov, CEO of Severneftegaz (controlled by Vladimir Lisin's NLMK ) and former deputy natural resources minister.
The other members of the board retained their seats. They include Ilya Klebanov, the presidential envoy to Russia's Northwest Federal District; David Moorhouse, member of the board of Maritime London; Alexei Klyavin, president of the National Chamber of Shipping; Mikhail Poluboyarinov, first deputy chairman of state bank VEB ; Sergei Frank, CEO of SCF; Anna Belova, professor at the Higher School of Economics; and Andrei Sharonov, dean of the Moscow School of Management Skolkovo. Glumov, Klyavin, Chammah and Sharonov are independent directors. The board was previously chaired by Klebanov.