19.03.10. AVTOVAZ President Igor Komarov elected to Novikombank’s Board of Directors
Pursuant to a decision of an Extraordinary General Meeting of Novikombank shareholders, the President of AVTOVAZ Igor Komarov has been elected to the Bank’s Board of Directors.
Novikombank and AVTOVAZ have a long record of successful collaboration. The Bank has been supporting the plant’s projects for a long time already. In particular, Novikombank was involved in setting up the enterprise’s system of settlements with suppliers and dealers. Moreover, financing from the Bank was used to implement a project to produce a modernized gearbox for the LADA Priora and the LADA Kalina. In late 2009 Novikombank provided the plant with a loan of over 20 million US dollars to finance day-to-day operations (until the arrival of state-support funds).
In 2008 the plant became a shareholder of Novikombank, acquiring newly issued shares representing 20% of the Bank’s authorised capital.
The election of Igor Komarov to the Bank’s Board of Directors is a reflection of the changes in AVTOVAZ OJSC’s management, and further evidence of AVTOVAZ’s and Novikombank’s willingness to continue developing their partnership.
AVTOVAZ OJSC’s former President Boris Aleshin (currently General director, Federal State Unitary Enterprise «Central Aerohydrodynamic Institute named after prof. N.E. Zhukovsky») also continues to sit on the Novikombank’s Board of Directors.
Novikombank’s Board of Directors:
Chairman of the Board of Directors:
Sergey Chemezov — Director General, Russian Technologies State Corporation.
Board of Directors members:
Boris Aleshin — General director, Federal State Unitary Enterprise «Central Aerohydrodynamic Institute named after prof. N.E. Zhukovsky».
Yuriy Artyakov — Senior Vice President, Corporate Customer Relations Department, Novikombank.
Ilya Gubin — President, Novikombank.
Igor Zavyalov — Deputy Director General, Russian Technologies State Corporation.
Igor Komarov - President, AVTOVAZ.
Igor Makarov — Chairman of the Board of Directors, ITERA Oil and Gas Company Ltd.
Nikolay Tokarev — President, JSC Transneft.
Denis Ursulyak — Deputy CEO, Novikombank.
Petr Fradkov — Member of the Management Board, Deputy Chairman, State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank).
For information purposes: Novikombank was established in 1993. Today, it is a solid, rapidly growing financial institution offering a comprehensive range of banking services to its customers. The provision of finance to Russian industrial companies, including heavy-machinery, the automotive industry and technology-intensive manufacturers is among the Bank’s priorities. As of 1 January 2010, the Bank’s capital amounts to 6.5 billion roubles, with net assets of 39 billion roubles.
