Mars CEO Grant Reed to step down in September

The American corporation Mars has announced that its CEO Grant Reid will leave his post in September. The new CEO of the company will be Poul Weirauch, who now runs Mars Petcare, a division for the production of feed and other pet products. Mr. Reed has headed Mars since 2014. Mars said in a statement … Read more

TASS: Chubais will step down as ARVE co-chairman

Anatoly Chubais, the former special envoy of the President of Russia for sustainable development, will step down as co-chairman of the Association for the Development of Renewable Energy (ARVE), TASS reported, citing an unnamed source. Mr. Chubais is currently out of Russia. According to a source close to the association, Anatoly Chubais’s application for early … Read more

BBC: Marks & Spencer will leave the Russian market completely

The British clothing manufacturer Marks & Spencer will completely leave the Russian market. This was reported by BBC News. The company stopped deliveries to Russia in March. However, its franchise stores remained open. In total, the company has no more than 50 stores in Russia. Marks & Spencer intended to leave the country even earlier, … Read more

Kudrin: Russia will take 1.5-2 years to restructure the economy

The restructuring of the Russian economy against the backdrop of sanctions will last one and a half to two years, during this period a decline in GDP is expected, said Alexei Kudrin, head of the Accounts Chamber (CA). He claims that at the end of this period, the country’s economy will return to growth. The … Read more

The head of Wildberries Bakalchuk will leave the Supervisory Board of VTB

The founder and CEO of the online retailer Wildberries, Tatyana Bakalchuk, is not on the list of candidates for election to the VTB Supervisory Board. Ms. Bakalchuk joined the Supervisory Board of the bank in 2021. Interfax learned that she would not be re-elected, after reviewing the materials for the annual general meeting of VTB … Read more

Stefan Zvegintsov will leave the post of General Director of Enel Russia

CEO of Enel Russia (the Russian generating company, a subsidiary of the Italian Enel) Stefan Zvegintsov will leave his post in May, Vedomosti reports, citing two sources close to the companies. A TASS source specified that Mr. Zvegintsov would leave his post on May 1. According to a Vedomosti source, the company’s employees were informed … Read more

Swedish bearing manufacturer SKF to leave Russia

The Swedish bearing manufacturer SKF will leave the Russian market and stop investments. The company is going to sell all its assets in the country in order to “secure the future of employees.” This was reported by the press service of SKF. The company also said that due to the departure, it will incur losses … Read more

ExxonMobil will completely withdraw from Russia by June 24

ExxonMobil, one of the world’s largest oil companies, is considering pulling out of Russia entirely by June 24, two sources familiar with the company’s plans told Reuters. ExxonMobil withdrew employees from Russia last month after Moscow launched a military sting operation in Ukraine. Among them were employees of large oil and gas production enterprises on … Read more