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Summa’s Magomevdov re-elected as FESCO board chairman

5 July 2016
Ziyavudin Magomedov, Chairman of the Board of Directors of Summa Group, has been re-elected as chairman of the board of directors at Far East Shipping Company (FESCO), the parent company of the FESCO Transportation Group, FESCO said in a press release.

The new board of directors, elected at the annual shareholders meeting at the end of June, includes Magomedov, Clive Denis Bode, Partner of TPG Capital investment firm; Marat Shaydayev, Acting Director General of United Grain Company; Dmitry Shvets, Head of TPG Capital Russia; Andrei Bazylev, CFO at Karenta LLC; Leyla Mammad Zada, Summa Group Chief Operating Officer; Konstantin Kuzovkov, CFO at Summa Group; Alexander Potapushin, Representative of Mercuria Energy Trading SA in Russia; and Andrei Uspensky, Director General of Uralsib Management Company. Bazylev, Kuzovkov and Uspensky are new to the board.

FESCO Group is one of the largest owners and operators of port infrastructure in Russia. It is an intermodal operator that manages marine, railway, and automobile transport capacities and stevedoring services at its own terminals at Russian and CIS ports. Summa Group owns 32.5% of Fesco, GHP Group owns 23.8%, TPG holds 17.4% and East Capital owns 4.9%. About 6% of Fesco’s shares are managed by Uralsib.

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