Non-Executive Director Assumes Role of Chairman of Federal Grid BoD
OREANDA-NEWS. August 2, 2011. Federal Grid Company of Unified Energy System (“Federal Grid” or the “Company”, ticker: FEES on MICEX, RTS and LSE), the operator and manager of Russia’s unified electricity transmission grid system, is pleased to announce that Ernesto Ferlenghi, an independent non-executive director, was elected the Chairman of the Board of Directors of Federal Grid at the meeting of the Company’s Board of Directors.
Igor Khvalin, also an independent non-executive director, was elected Deputy Chairman of the Board of Directors of Federal Grid.
Mr. Ferlenghi replaces Sergey Shmatko, the Energy Minister of the
Ernesto Ferlenghi, Chairman of the Board of Directors, commented:
“I am pleased and honoured to be elected the Chairman of the Board of Federal Grid. This is an exciting and demanding role at the company that is the backbone of the Russian electricity sector. We are one of the largest energy infrastructure companies in the world and we aspire to be one of the most technologically advanced.
I believe it is a significant achievement for Federal Grid that it has become one of the first major Russian companies with the Board of Directors chaired by an independent non-executive director in line with the international best practice in corporate governance.
Finally, on behalf of the Board of Directors I would like to extend our gratitude to the outgoing Chairman Sergey Shmatko for helping to navigate the Company through the reform of the electricity sector, asset consolidation and the launch of the RAB tariff regulation”.
Ernesto Ferlenghi’s biography
Ernesto Ferlenghi has been Member of the Board of Federal Grid since December 2008. He is also a member of Audit Committee of the Board.
Since April 2009 Mr. Ferlenghi has been Vice President of Eni S.p.a. and since 2005 he has been the Head of Eni’s representative office in
Ernesto Ferlenghi is 43 years old. He is married with two daughters.
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