Russian Railways' Top Manager Sergey Maltsev resigns

Russian Railways' Top Manager Sergey Maltsev resigns
Sergey Maltsev

Top manager from Oleg Belozerov's team, who has been heading the Russian Railways since one and a half years ago, has filed a letter of resignation.

Russian Railways' Senior Vice-President Sergey Maltsev used to curate the company's strategy. He took this position a little over a year ago.

It is known that Sergey Maltsev has already submitted a letter of resignation, and soon the top manager's resignation will be officially announced on the Russian Railways' site. However, the Russian Railways have neither confirmed nor denied this news, saying they do not comment on rumors. Media representatives have not received any commentary from Maltsev. 

It should be noted that Sergey Maltsev was appointed to the post of senior vice president of the Russian Railways in November 2015. He was responsible for the company's development and strategic planning. In this position, Sergey Maltsev replaced Valery Reshetnikov, who was a long-time associate of former president of the Russian Railways Vladimir Yakunin.

Oleg Belozerov, appointed as the head of the Russian Railways in August 2015, changed the ruling coterie of the company, reducing the number of top managers from 25 to 23 people. In addition, he removed a number of key figures from the board and transferred them to the posts of his advisors.

Before joining the Russian Railways, Sergey Maltsev had led the rail operator Globaltrans for seven years; the company was the first Russian railway operator to publicly float on the London Stock Exchange in 2008.

His apppointment was heartened in the Russian Railways, as Maltsev advocated the liberalization of locomotive traction. He started working in this direction as early as in 2014, and lobbied for the transfer of wagons and locomotives to the Russian Railways' subsidiary. The then-Head of the company Yakunin spoke out against the initiative. Now it is clear that the company is able to secure a break-even operation by applying tariff decisions.

Discuss

Recommended

1 / 3