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Sistema announced change in leadership, recommendation of no dividends for 2021. Sistema announced yesterday that its BoD recommended not to distribute dividends for 2021, in light of “persistent high market volatility” and the need to prioritize Sistema’s financial resilience and liquidity. It also announced a change in the President of Sistema. According to the press release, Vladimir Chirakhov stepped down, will now “focus on his own projects” and join BoD of Sistema’s portfolio companies, while Tagir Sitdekov was appointed a new President. Mr Sitdekov was previously a Managing Partner at Sistema, responsible for its various projects, including in healthcare and pharma. Prior to that, in 2011-2021 Sitdekov served as the first Deputy General Director and a member of the Management Board of RDIF Management Company LLC, according to the Sistema Biotech website.
8.3.3 ECM news
8.4 International ratings
110 RUSSIA Country Report October 2020 www.intellinews.com
Russia - Rating agency
as of May 30, 2022
last change
Moodys (USD rating)
Ca
06/03/22
Fitch (USD rating)
Ca
08/03/22
