Felix Yevtushenkov to Head AFK Sistema from September 24
Felix Yevtushenkov, son of founder Vladimir Yevtushenkov, has been appointed president of AFK Sistema for three years starting September 24. Tagir Sitdekov left the post early.
Felix Yevtushenkov has been appointed president of AFK Sistema for a three-year term starting September 24, according to the company's website. Forbes notes that he is the son of the corporation's founder, Vladimir Yevtushenkov.
The post was vacated by Tagir Sitdekov. He had previously been approved as president until July 2028 but left the position early. Sitdekov will, however, continue working at the corporation.
The company's press service explained the goals of the personnel changes. According to them, the reshuffle should facilitate the development of the corporation's investment portfolio, its key assets, and various business lines.
The New President's Career
Yevtushenkov began working at the company in 1999 as a legal service specialist and stayed there until 2000, Forbes writes. For the following eight years, he worked in commercial and residential real estate. After that, he oversaw various assets at AFK Sistema.
From 2008 to 2012, his area of responsibility included the corporation's consumer and core assets. He then switched to the IT sector. In 2018, Yevtushenkov headed the board of trustees of a charitable foundation. Since 2022, he has focused on investing in projects and initiatives in new fast-growing markets.
Portfolio Structure
AFK Sistema is a Russian private investment company with assets in various industries. The portfolio consists of public companies whose shares are traded on the stock exchange and non-public subsidiary structures. Many of the latter may go public with IPOs in the future.
Among the main public assets is MTS, with a stake of about 49.9%. The perimeter also includes MTS Bank and digital services. In addition, the company owned roughly 31% of the Ozon marketplace, about 62% of the forestry holding Segezha Group, and approximately 29% of Etalon, a developer operating in the residential real estate market in St. Petersburg, Moscow, and other regions.
The Deal with VTB
This summer, VTB received a stake in Ozon as collateral. This happened after AFK Sistema raised 320 billion rubles by pledging the marketplace's shares to the bank. The understanding was that the company received the funds as an "investment resource" that could be used to repay corporate debt and public obligations.
Original: sistema.ru
More from Алексей Черных
159 articles
Related articles
- Elvis Presley Song Rights Holders Demand $41.1 Million from Anthropic
- Pinduoduo and Anthropic paid Kazakhstan 8 billion tenge in taxes
- Disney Will Show Super Bowl 2027 Through the Eyes of Star Wars Characters
- Mom's Touch to Open 50 Restaurants in Kazakhstan with Shin-Line
- Prada answered AI slop with a pencil: 6 million views and mice in the style of Disney