OREANDA-NEWS. December 18, 2007. MIEL Holding is ending 2007 with a new organisational structure. MIEL’s new model of corporate governance has been three years in the making, and has transformed the real estate concern from a company into a financial holding. Tasks of strategic management and formation of corporate standards have been made the responsibility of the General Meeting of Shareholders and the Board of Directors. A new Management Company, headed by the Holding CEO, will take the role of main executive body, with responsibility for achieving main strategic goals.

Evgeny Plaksenkov has been appointed Chief Executive Officer of MIEL Holding. Mr Plaksenkov formerly held the post of Financial Director of the Holding.

The decision to organise MIEL as a financial holding with a professional management company in the role of corporate centre and with subsidiaries, which are strategic business units, was dictated by the increased scale of company business and financial turnover. The new structure ensures a new level of transparency, creates an effective management system, and provides optimal conditions for development of the Holding in all priority directions.

MIEL has set new standards of corporate governance in the real estate sector, and hires the best managers, consultants and auditors in order to ensure that those standards are maintained.