Russian Railways CEO to step down for Parliamentary seat

Vladimir Yakunin_image0071-199x300Vladimir Yakunin, the president of Russian Railways announced he is stepping down as head of the state railway company.
Yakunin’s announcement follows his nomination for a seat in Russian Parliament, the Federation Council, by the acting governor of the western exclave of Kaliningrad on the Baltic Sea. “I am planning to leave the company, as required, following (Kaliningrad region governor) elections,” Yakunin told RIA Novosti.
Yakunin has been heading the Russian Railways since June, 2005. He was reelected as company’s president in 2014.
Russian Railways (RZD) was established in 2003 on the basis of the Ministry of Railways as part of the programme to reform the Russian railway sector. At present, Russian railways continues to progress as an effective transport holding company.
Since the beginning of the industry’s reforms, a significant part of Russian Railways’ assets has been restructured, and over 80 subsidiaries and affiliated companies created in such fields as passenger transport, rolling stock maintenance, manufacturing, freight cars operation, engineering and design, logistics and scientific activities. RZD has representative offices in 11 countries: Hungary, Germany, China, North Korea, Poland, Slovakia, Ukraine, Finland, Estonia and France. The company also recently completed the registration process for the office in Belarus.
Also in December 2014, the International Union of Railways (UIC) has re-elected Vladimir Yakunin, president of Russian Railways (RZD), as its chairman for a second two-year term, he held this position on a previous term for 2012 – 2014.

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