1 Dec 2022 12:45

New general director of Ukraine's Motor Sich appointed

MOSCOW. Dec 1 (Interfax) - Vyacheslav Boguslayev has been dismissed from the post of PJSC Motor Sich president, and Alexei Nikiforov has been appointed the company's general director in line with the Ukrainian defense minister's order, Ukrainian media said on Wednesday, citing the website of the Defense Ministry.

"On November 28, 2022, in accordance with the order of the defense minister of Ukraine, amendments were made to the charter of PJSC Motor Sich, on the basis of which the enterprise operates. In addition, the powers of the supervisory board members, the chairman and the members of the board of directors were terminated ahead of schedule. Also, the powers of the joint-stock company's president Vyacheslav Boguslayev were terminated, and he was dismissed from the position," according to the report.

Furthermore, the company elected its new supervisory board and the board's chairman, Deputy Economy Minister Igor Fomenko, who has already held the first meeting. Roman Konovalov, Sergei Korzh, Yury Pashchenko, and Yury Shapoval also joined the newly formed supervisory board of the enterprise.

In addition, all changes made to the Unified State Register were registered.

"From now on, this strategic enterprise will be working 24/7 to meet the defense needs of the state. The potential of the workforce will be fully used. Motor Sich will develop and manufacture products in the interests of Ukraine and the Armed Forces of Ukraine," the Defense Ministry said.

Information about Nikiforov's appointment as Motor Sich general director has already been added to the State Register.

Alexei Nikiforov, born in 1981, currently holds the post of Zaporozhye deputy mayor for the activities of the executive branch of government. Prior to that, from 2016 to 2021, Nikiforov headed the Vodokanal enterprise in Zaporozhye. He had a job in the administrative and economic department of Metinvest LLC's branch in Krivoi Rog in 2015-2016, and worked at the Zaporozhstal steel maker in 2000-2014.

PJSC Motor Sich is one of the world's biggest producers of aircraft engines and gas turbine plants. The company sells its products to more than 100 countries worldwide.

The circulation of all shares of Motor Sich, whose main owner was its former president Boguslayev, who has recently been arrested, was blocked in April 2018 after the company's controlling stake was sold to China's Skyrizon and affiliated entities a year earlier.