Sovcomflot Elects New Chairman and New CEO
On September 24, 2019, the Board of Directors of PAO Sovcomflot elected Sergey Frank as its new Chairman. Igor Tonkovidov was appointed as the company's new Chief Executive Officer. Both appointments are with immediate effect.The meeting was attended by Maxim Akimov, Deputy Prime Minister of Russia, who noted in his address: "Through consistent implementation of Sovcomflot's Strategies 2005-2011 and 2012-2018, the company has transformed itself into a global leader in energy shipping and offshore services. Over the past 15 years, Sovcomflot fleet has grown more than threefold. The company
Sovcomflot CEO to Switch to Chairman
on a new board of directors "in the near future".In a government order published on Monday, Frank was named as a board member - not the director general - in the list of candidates to be on Sovcomflot's board of directors, indirectly confirming his move from CEO.Frank's deputy, Igor Tonkovidov, is set to become the new CEO, sources said.Frank has been at the helm of Sovcomflot, following a merger of several shipping companies in the late days of the Soviet Union, since October 2004.In 1990s he worked in the Russian transportation ministry, which he headed from 1998-2004 before moving
