Rumours mount that Aeroflot chief is on the point of resignation, with Zurabov waiting in the wings (297 words)

Published: 10/26/2001

Unconfirmed sources within the Ministry of Transport are suggesting that Valery Okulov, General Director of Aeroflot, is expected to resign. It is almost impossible to assess the veracity of these reports as everyone appears equally in the dark. It should be remembered that Okulov has either been going to resign or on the point of being fired on average of once a quarter for the last three years and he has proved to be a redoubtable survivor in the perilous world of Russian senior airline management, despite the loathing of the airline's unions. Recent shareholder changes at the airline, with the entry of Russian Aluminium (Rusal) have, however, somewhat changed the playing field, although much ambiguity remains. There have been persistent rumours that Okulov's deputy and main finance man, Alexander Zurabov, is the heir apparent and, as he had been nominated by the incoming shareholders for a place on the airline's board, was likely to depose the current GD. But little has been heard of this lately and if Okulov was to be forced out, the timing by those keen to oust him is not exactly perfect, given the general climate of uncertainty within the aviation industry. It should be noted however, that one of the prime reasons for keeping him under the “new shift” was to demonstrate continuity for investors who might participate in an Aeroflot privatisation: now an extremely unlikely event in the foreseeable future after the fall out of 11th September. As for his alleged successor, most who know Zurabov seem to think he would be an admirable replacement and one that in many ways would be better attuned to taking the airline forward.

Article ID: 2859