Russian govt approves directive to name Mikhail Volkov CEO of Russian Post

MOSCOW. Dec 2 (Interfax) - The Russian government has approved a directive to appoint Sports Lotteries LLC (National Lottery) head Mikhail Volkov chief executive of Russian Post.

The directive, signed by the chief of the government administration, Deputy Prime Minister Dmitry Grigorenko, has been sent to Russian Post's board of directors, the government said in a statement.

"According to the document, representatives of the state (owns 100% of Russian Post shares) on the company's board of directors must vote in favour of dismissing current general director Maxim Akimov from his position and support the appointment of Mikhail Volkov to this post," the statement said.

Volkov currently heads Sports Lotteries LLC, which is 48.5% owned by state bank VTB , the co-owner of Pochta Bank, and 51% by the president of the International Boxing Association, Umar Kremlev. Volkov previously served as deputy CEO of Russian Post for operations and retail. He also worked as a senior executive at VTB and the Bank of Moscow.

Akimov, a former deputy prime minister of Russia, was appointed head of Russian Post in February 2020 for a five-year term.

RBC, citing sources, reported earlier that Akimov had decided to leave the company "for personal reasons," while national daily Kommersant, also citing sources, reported that the change of leadership at Russian Post was due to a "combination of factors, including poor financial results."