25 Dec 2009 14:09

Former top-manager from RusHydro to head up Deripaska

MOSCOW. Dec 25 (Interfax) - Alexander Sergeyev, the former head of OJSC RusHydro's sales division, has been made managing director for energy at En+ Group, which unites Oleg Deripaska's power assets.

En+ told Interfax that its former managing director Jivko Savov is moving to the position of deputy CEO of the group.

Savov will replace Michael Nossal as deputy CEO. Nossal is leaving En+ owing to a necessary transfer to Australia.

The personnel changes in En+'s management will come into force in January 2010.

Sergeyev will be responsible for the development of the group's energy business, including EvroSibenergo through which En+ recently consolidated key power assets.

Sergeyev has worked at the group since November 2009. From February 2005 he was a manager oat RusHydro and left the company in July 2009 prior to the massive personnel changes following the accident at Sayano-Shushenskaya HPP.

In his new position, Savov will be responsible for working with the group's creditors and potential investors, raising capital and implementing projects in the framework of the Kyoto protocol.

In addition, the position of director for corporate finance has been set up at the group, which Nossal earlier oversaw. Andrei Pospelov has been appointed to this position having head En+ corporate finances since May of 2008. He will also be responsible for organizing finances for the group's current operations, as well as overseeing liquidity management. Prior to his arrival to En+, Pospelov was the deputy financial director of United Oil Group, which manages En+'s oil and gas assets, and various bank organizations in Russia and Singapore.

En+ Group units Deripaska's aluminum, power, oil, gas and mining assets. The company owns a controlling packet in UC RusAl, was well as EvroSibenergo, which united the groups power assets in September.

Following the consolidation, EvroSibenergo became the leading private player on Russia's electricity market. The company's installed capacity comes to 19,500 megawatts. The company includes Irkutskenergo and Krasnoyarsk HPP, as well as Avtozavodskaya CHP and sales companies.