13 May 2022 20:31

Russian digital development minister, Rostelecom CEO nominated for VTB's supervisory board, Wildberries CEO leaving

MOSCOW. May 13 (Interfax) - Founder and CEO of online retailer Wildberries Tatyana Bakalchuk is leaving VTB's supervisory board after joining it last year, as can be seen from the absence of her name on a list of candidates to be elected to the board included in materials for the bank's annual general meeting of shareholders seen by Interfax.

Following the annual general meeting of shareholders, which will be held in absentia on June 3, Otkritie NPF CEO Mikhail Motorin and Nord Stream 2 AG Executive Director Matthias Warnig will also leave the supervisory board. French independent director and Vinci Vice President Yves Thibault De Silguy left the board ahead of schedule in March.

Among the new candidates to the board are Russian Digital Development Minister Maksut Shadayev and State Duma member Sergei Gavrilov, who is also the chairman of VTB's shareholders consultative council, while head of the Association for the Development of Financial Literacy Veniamin Kaganov and Rostelecom CEO Mikhail Oseevsky, who was once a member of VTB's management, have been nominated independent directors.

The remaining candidates are currently on the supervisory board, and they include Russian Deputy Prime Minister and government chief of staff Dmitry Grigorenko, who has chaired VTB's supervisory board since fall 2020, deputy government chief of staff Valery Sidorenko, Economic Development Minister Maxim Reshetnikov, Deputy Finance Minister Alexei Moiseyev, VTB head Andrei Kostin, head of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) Israfil Mammadov, a minority shareholder of VTB since 2013, and member of VTB's shareholders consultative council Igor Repin.

The Russian Federal Agency for State Property Management (Rosimushchestvo) owns 60.93% of VTB, a controlling stake. The bank's other biggest shareholders as of the end of 2021 are SOFAZ with 2.95% and Qatar Holding LLC with 2.35%. Otkritie NPF owns another 3.2%. Current information about VTB shareholders is not available in connection with the sanctions imposed on it by the United States, the European Union, and the United Kingdom.