OREANDA-NEWS. On March 20, 2009 Board of Directors of PSC “VSMPO-AVISMA Corporation” elected a new President. This new President is Michael Voevodin – member of Board of Directors and chairman of the audit committee, executive director of JSC "Prominvest", reported the press-centre of VSMPO-AVISMA. 

Michael Voevodin took the place of the president Vladislav Tetyukhin, who had been working as General Director for 16 years since 1992 year, and since September 2008 – as President of the company.

Michael Voevodin – economist, he graduated from the academy named for G. V. Plehanov and diplomatic academy of Ministry of Foreign Affairs (“international economic contacts”). He has been working in “Prominvest” since 2002 year, since 2005 - as executive director of the company. He has been member of Board of Directors of PSC “VSMPO-AVISMA Corporation” since November of 2006 year.

In accordance with a new revision of "Regulations for President", approved by Board of Directors, President will control realization of the decisions made by Stockholders’ meeting and Board of Directors, and also perform operational coordination between General director and Board of Directors concerning the following questions:

- effectivization of work by means of strengthening of foreign economic and manufacturing relations;

- process improvement;

- design of development strategy for intermediate and long-term prospects;

- development of scientific and technological, innovation, investment, personnel and social activities.

In particular, the new President will cooperate with strategic suppliers and clients in collaboration with Mr. Tetyukhin, who is in charge of this direction as the member of Board of Directors.

"In context of crisis, it is necessary for Board of Directors to take active participation in the company’s life. In point of fact, President is a representative of Board of Directors in the company, one of his most important mission is to create operational coordination between company managing organs for more flexible response to varying economic situation" - noticed Michael Shelkov - vice-chairman of Corporation Board of Directors.