FESCO Transport Group raises efficiency of corporate management

12 March 2007
FESCO Transport Group carries out reorganization of corporate management, concerned with significant broadening of business of the Company and railway and terminal assets acquisition.
After the reorganization, the corporate governance will be totally equal to challenges, faced by the Group.

Vladimir A. Lelukh, FESCO Board of Directors Member is appointed to be the FESCO Vice President for legal assistance. The new position is initiated in order to increase effectiveness of legal assistance and decrease legal risks in the integrated Company.

Mikhail V. Burdakov will lead the IT activities of the Group in the position of Vice President for Information Technologies - Director of IT Department. FESCO is sure that his work will result in considerable development of IT technologies utilization, including united information field of the Group development and new client services launching. Mikhail Burdakov was responsible for the same field in the Group “Industrial Investors” lately.

FESCO Board of Directors Member Antonina B. Murashova, appointed Internal Audit, Control and Risks Analysis Department Director, will coordinate activities, devoted to monitoring system perfection, internal control and risk management development.

Irina V. Pronina joined FESCO Management in the position of Organizational Development and Personnel Department Director. The new Department objectives include staff education system launching, personnel allocation efficiency growth, professional development planning.

New appointments in the Group administration are considered to be logical steps concerned with management efficiency growth. Theses changes are essential tactical parts of the largest national intermodal transport & logistic company building strategy.

FESCO Transport Group was created on the basis of Far Eastern Shipping Company - one of the biggest and oldest transport companies in Russia, founded in 1880. Companies of the Group provide intermodal transportation services between Russian cities, as well as between ports of Russia, Pacific Rim and Europe, provides icebreaker escort to vessels in the and services biggest oil and gas companies in the Far East. The strategy of group development is aimed at turning FESCO into an integrated intermodal service provider, capable of transporting containers and bulked cargos "from door to door" between Russia, Europe and South-East Asia, covering all segments of the transportation chain and offering comprehensive logistical solutions. The controlling shareholder of FESCO is “Industrial Investors” Group.. For further information, please visit our web-site www.fesco.ru or call Company press-center in Vladivostok +7 (4232) 52-10-76 or Moscow +7 (095) 540-80-01.