Gref not planning to quit Sber, but has to groom successor, like all chief execs

MOSCOW. Dec 6 (Interfax) - Herman Gref does not plan to step down as President and CEO of Sberbank but, like all chief executives, he has to groom a successor.

"First of all, I'm not going to leave Sber yet. Secondly, I think that it seems to me that developing a strong team is the main responsibility of any CEO, and putting the conditions in place for their departure will not cause any major shockwaves. This an essential KPI for me," Gref said at Sberbank's Investor Day.

He said the bank's supervisory board often reminded him of these goals. "We work on this and I believe that our team is strong enough to overcome all possible scenarios," Gref said.

He said he thought the role of the individual in the group's destiny is of major importance, but is frequently somewhat overrated.

"The key thing is that, as the song goes, the squad does not notice the loss of a fighter, even if that fighter is the first to suddenly decide to leave a company. Our task is to have two successors for each position. There are no exceptions for me, so I very much hope that when the time comes our company will get through it on a firm footing, including how it replaces me," Gref said.