Member of MTS, Uralkali boards of directors Paul Ostling elected chairman of Brunswick Rail board
MOSCOW. July 30. (Interfax) - The board of directors of Brunswick Rail, Russia's leading private freight railcar operating lessor, has elected Paul Ostling, who is also a member of the boards of directors at cellular provider OJSC Mobile TeleSystems (MTS) and fertilizer producer OJSC Uralkali , as its new chairman, Brunswick Rail said in a press release.
Bo Lerenius, who headed the board before Ostling, has resigned from Brunswick Rail. The company did not mention his future plans.
"Paul Ostling began working at Ernst & Young in 1977, and rose to become Global Chief Operating Officer in 2003, a position he held until 2007. In Russia, he is a Board member and Audit Committee chairman at MTS and Uralkali, and served as Chief Executive Officer of KUNGUR Oilfield Equipment and Services until 2010," the press release noted.
Brunswick Rail is one of the leading Russian railcar operating lessors. At present, its founders own 24.4% of its charter capital - Macquarie Renaissance Infrastructure Fund owns 15.4%, the IFC - 13.4%, Sumitomo Corporation - 9.3%, VTB Capital - 7.1%, UFG - 5.7% and other investors and management - 24.2%. The company's fleet is comprised of over 22,000 of its own cars, 71% of which are gondola cars, 15% - mineral hoppers and 14% - box cars, universal platforms and tank cars.