Andrey Kostin elected as USC BoD Chairman
This position was previously held by ex-Governor of Saint-Petersburg Georgy Poltavchenko
At its meeting held on 25 August 2023, the Board of Directors of United Shipbuilding Corporation JSC (USC) unanimously elected Andrey Kostin as USC BoD Chairman, according to the Telegram of USC.
This position was previously held by ex-Governor of Saint-Petersburg Georgy Poltavchenko.
Andrey Kostin was born in 1956 in Moscow. He is a graduate of Lomonosov Moscow State University with specialization in political economy, Ph.D. in Economics.
Between 1979 and 1993, he was at diplomatic service at the USSR Consulate General in Australia, then at Embassy to the UK. In 1993 – appointed as Deputy Head of Foreign Investment Department of Imperial Bank. In 1995 he was elected First Deputy Chairman of National Reserve Bank. In 1996 he was appointed Chairman by presidential executive order of Vnesheconombank. Since 2002 - President and Chairman of the Management Board, Member of the Supervisory Council of VTB Bank.
Full Cavalier of the Order For Merit to the Fatherland (2006, 2011, 2016, 2021). BoD Member in a number of companies.
As IAA PortNews reported earlier, Russian President expressed his support of the Government’s proposal to transfer state-owned stake in USC to VTB when meeting with President and Chairman of VTB Bank Management Board Andrey Kostin.
On 22 August 2023, RF Government nominated 13 candidates for the Board of Directors of the United Shipbuilding Corporation (USC) including VTB head Andrey Kostin and Andrey Puchkov, First Dpty Chairman at VTB Bank. Andrey Puchkov was later elected as the sole executive body (General Director) of United Shipbuilding Corporation JSC (USC) for 5 years.
United Shipbuilding Corporation (USC OJSC) is the largest shipbuilding company in Russia. It was set up in 2007 with 100% federal ownership. The holding comprises about 40 companies and organizations (major shipbuilding and shiprepairing companies as well as leading design bureaus). Currently, USC consolidates the bulk of the domestic shipbuilding complex. The Russian market is the main focus of the state corporation though it also exports its products to 20 countries worldwide. Throughout its history, USC companies have built and repaired over 320 ships including over 205 civil ones. In 2022, the Group’s revenue totaled RUB 384 billion.
