USC board of directors elects VTB CEO as chairman

MOSCOW, Aug 25 (PRIME) -- The board of directors of United Shipbuilding Corporation (USC) has elected CEO of VTB Andrei Kostin as chairman, the company said in a statement on Friday.

"The board of directors of USC decided unanimously to elect Andrei Kostin as chairman of the board of directors at a meeting on August 25, 2023," the statement read.

Earlier in August, President Vladimir Putin said that the government had suggested transferring a controlling stake in USC to second largest lender VTB. The president supported the decision saying that VTB will receive the company under trust management for five years.

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