VTB's supervisory board reelects Dubinin as chairman, managing board members reconfirmed
MOSCOW. June 9 (Interfax) - VTB's supervisory board , at a meeting on June 8, reelected Sergei Dubinin as its chairman, the bank said in a statement.
The supervisory board also decided to reduce the number of members on VTB's managing board to 10 persons. In actuality, the managing board has 10 positions since Yekaterina Petelina moved to the group's retail arm, VTB 24 , at the end of May.
In addition, the supervisory board extended the authority of two of the bank's first deputy presidents and deputy CEOs, Yury Solovyev and Vasily Titov, for five years, as well as deputy CEOs Herbert Moos and Andrei Puchkov, and five managing board members, Denis Bortnikov, Victoria Vanurina, Olga Dergunova, Valery Lukyanenko, and Erkin Norov.
It was earlier reported that the supervisory board decided on April 25 to extend the authority of VTB's president and CEO, Andrei Kostin, by five years.
The supervisory board also elected audit, personnel, bonus, strategy, and corporate management committees.
Dubinin joined the supervisory board and was elected as its chairman in summer 2011, replacing former Finance Minister Alexei Kudrin. Kudrin, then serving as minister, declined to sit on VTB's supervisory board after then Russian President Dmitry Medvedev instructed representatives of the presidential administration, ministers and deputy prime ministers to leave the boards of directors of companies in key economic sectors by October 1, 2011 in order to improve the investment climate in Russia.