RA Ex-President Robert Kocharyan appointed as an Independent Director of Systema AFC

June 29, 2009 - 16:38 AMT
PanARMENIAN.Net - Systema AFC OJSC, the largest public diversified financial corporation in Russia and CIS, held an annual Shareholders' Meeting on June 27.

Directors' Boards was expanded from 10 people to 13. 3 new Directors were appointed into the Board: Systema AFC President Leonid Melamed, Sistema Shyam Teleservices' Directors' Board representative Radjiv Mehrotra. RA Ex-President Robert Kocharyan was appointed as an independent director of Systema AFC.

 

4 out of 13 positions in the Board of Directors are occupied by Independent Directors. Board Meeting also approved the annual report and accounting documents for 2008. A resolution not to pay off 2008 dividends was passed.



Systema AFC owns the following assets in Armenia: WiMax- Cornet Am operator, Mars Factory, as well as 3 Scientific Research Institutes.
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