President of Russian Transmashholding leaves office due to sanctions

President and member of the board of directors of the largest manufacturer of rolling stock for rail transport in Russia – Transmashholding JSC – Andrey Bokarev is leaving his posts.

This is reported by the railway magazine Railway Supply with reference to interfax.ru.

It is reported that Andrey Bokarev came under British sanctions last week.

“Changes in the composition of the company’s management will not affect compliance with the obligations assumed by Transmashholding, its subsidiaries and affiliates,” the company assured.

It should be noted that currently in the Russian Federation there is a flurry of dismissals of top managers of large companies.

Transmashholding is the largest manufacturer of rolling stock for rail transport in the Russian Federation. The group’s enterprises are located in St. Petersburg, Bryansk, Penza, Tver, Moscow, Rostov and Saratov regions, as well as in Switzerland, Hungary, South Africa, Egypt, Argentina, Belarus and Kazakhstan.

In the combined corporation, 20% belongs to the French concern Alstom.

Recall that in March Alstom announced the termination of supplies to the Russian Federation.

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