Still unclear about new Aeroflot board make up (274 words)

Published: 7/9/2001

The additional Aeroflot board meeting planned for the 6th of July to discuss the forthcoming EGM has been postponed until today according to Aerfolot, to allow Minister of Transport Sergei Frank and Chairman of the Aeroflot board, to attend the commission investigating the recent Vladivostok Avia Tu-154M crash at Irkutsk. The meeting will discuss issues relating to the EGM and may agree its date, that will then have to take place within 45 days. The delay however, may not be enough time according to some reports, for the board to decide on the allocation of seats on the new board replacing the current 7 members from the state and 2 from the company's management. The most likely distribution however, remains 1 representative from Aeroflot, 2 representatives from new shareholders and 6 from the state. The view being that Valery Okulov, Aeroflot's General Director, will stay on the Board and Deputy General Manager Zurabov will go. Given that although Okulov is not popular among Aeroflot's employees and its unions, who remain a sizable proportion of shareholders, he is viewed favourably over reformer Zurabov, who has done so much to change the airline, but in the process has incurred the enmity of a large section of the workforce. Reports however, also continue to suggest that Russian Aluminium, the new shareholder, is interested in a substantially greater representation for the 29% it indirectly controls.

Article ID: 2628