OREANDA-NEWS. On 23 May 2008 was announced, that Andrey Makarov, former General Director of OJSC TGC-9, was appointed 16 May IES Holding Executive Vice-President and Head of the Urals Generation Division.

The Division has been formed on the basis of generating and heat network assets of OJSC TGC-5 and OJSC TGC-9, with its headquarters in Perm. In his new capacity, Andrey Makarov will be responsible for uninterrupted and reliable operations of the generating facilities within the framework of the new Division.

A decision to develop a new business model for IES Holding was made in February, 2008. This model comprises generation (electric power and heat production, heat networks), trading (fuel purchases, wholesale power market operations, and heat supply bilateral contracts), retail (electric power, heat and gas) and construction of new generating facilities.

To perform said transformations, an extraordinary meeting of OJSC TGC-9 shareholders voted 11 March to delegate the powers of the sole executive body to CJSC IES. On 16 May, in connection with the delegation of the powers of the sole executive body to the management company, the Board of Directors of OJSC TGC-9 terminated the powers of Andrey Makarov as OJSC TGC-9's General Director.

Formation of a target asset structure and creation of an efficient management system are among the priorities for IES Holding in 2008.