OREANDA-NEWS. December 25, 2013. RusForest appointst of the current deputy CEO and general counsel, Anders F. Borjesson, as CEO of the Swedish holding company, RusForest AB, effective January 1, 2014, as the company said in the press release received by Lesprom Network.

Mr. Borjesson serves as legal counsel for Vostok Nafta Investment Ltd and was previously a transaction lawyer at Mannheimer Swartling in St. Petersburg and Moscow.

Matti Lehtipuu will continue to be Group CEO and will focus on operations in Russia alongside the Group Chief Operating Officer (“COO”), Anton Bogdanov. Mr. Lehtipuu will still be based in Moscow but will be employed directly by RusForest’s Russian subsidiary, RusForest LLC.

Garrett Soden, the Company’s Chairman, said, “We are streamlining our corporate structure by removing the Cyprus holding company and transferring ownership of our Russian forestry assets directly to the Swedish holding company. The corporate simplification and the appointment of Anders as the Swedish company CEO will strengthen our corporate governance and internal controls, while at the same time reducing administrative costs and making the group more tax efficient. Our Group CEO and COO, Matti and Anton, will continue to be based in Russia to manage operations on the ground.”

RusForest is a Swedish forestry company operating in Eastern Siberia and the Arkhangelsk region of Russia. The Company controls long-term timber leases and utilizes these resources to produce a wide range of sawnwood products.