Stockholders name Rado Antolovic as CEO of NCSP
Shareholders of JSC Novorossiysk Commercial Sea Port (PJSC NCSP) at their Extraordinary General Meeting held on July 9, 2012 have elected Rado Antolovic Chief Executive Officer of NCSP, the Group press release said.
Rado Antolovich said that he will do his best “to further develop the company, freight volumes growth, improve service and successful implementation of the Strategy development of NCSP Group in 2012-2020."
On June 14, 2012 the Board of Directors of PJSC NCSP named Rado Antolovicha as the sole candidate for election to the post of CEO.
Antolovic candidacy was proposed by a NCSP’s shareholder - Novoport HOLDING CO. LTD.
Rado Antolovic has joined the NCSP Group since April 2011.
Novorossiysk Commercial Sea Port is the largest Russian stevedoring company and ranks third operator in Europe in terms of cargo throughput. The NCSP Group incorporates the following stevedore companies: PJSC Novorossiysk Commercial Sea Port, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NovorosLesExport, OJSC IPP, Baltic Stevedoring Company Ltd. and PJSC Primorsk Trade Port Ltd. Novoport Holding Ltd, which is beneficially owned by Transneft and Ziyavudin Magomedov (Summa Group), holds a 50.1% stake in PJSC NCSP. Consolidated revenue according to IFRS for the nine months of 2011 totaled $782 million and EBITDA of $404 million. NCSP shares are traded on Russia's MICEX exchange (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP). In 2011, cargo traffic at NCSP Group totaled 157 million tons.