On 24 September 2019, the Board of Directors of Sovcomflot elected Sergey Frank as its new Chairman. Igor Tonkovidov was appointed as the Company’s new Chief Executive Officer. Both appointments are with immediate effect.
Maxim Akimov, Deputy Prime Minister of Russia, who attended the meeting, noted “Given the scale of challenges and opportunities facing Sovcomflot, the shareholder will further support the role of the Board of Directors in strategic planning beyond 2025. The shareholder has recommended that Sergey Frank be elected as the new Chairman of Sovcomflot’s Board of Directors, with Igor Tonkovidov appointed as the Company’s new Chief Executive Officer, which was fully endorsed by the Board.”
“Given the profound transformation that the global maritime industry is undergoing, the remit of the Board of Directors will extend to ensure that Sovcomflot is well prepared to handle the new challenges and opportunities such a transformation brings. This includes the fast-track integration of digital technology into business processes, continual compliance with ever tightening environmental regulations, recruiting and training the next generation of Sovcomflot’s leaders. The Board will closely oversee certain projects, transactions and initiatives of strategic importance to Sovcomflot’s future sustainable development,” Sergey Frank said.
Igor Tonkovidov, emphasised that he sees the full-scale implementation of the plans and projects within the Company’s Strategy 2025 as a top priority. “Sovcomflot will continue to upgrade its fleet, with a focus on further enhancing its operational efficiency, to meet our customers’ needs. We will continue to pay strong attention to the quality of our fleet management, the reduction of the human-induced impact of maritime operations on the environment, issues related to the training and staffing of our vessels with qualified personnel, and further enhancing the wellbeing of our employees. With the shareholder’s support, this course of action will allow Sovcomflot to consolidate its leadership position in the global shipping market,” he said.
Sergey Frank became President and Chief Executive Officer, Chairman of the Management Board and a member of the Board of Directors of PAO Sovcomflot in October 2004. Earlier in his career, between 1989 and 1995, he worked for the Far Eastern Shipping Company; the last position held there was being Deputy Director General for Business and Finance. From 1995, he held a senior position in the Ministry of Transport of the Russian Federation and later served as Minister of Transport between 1998 and 2004.
Igor Tonkovidov served as Executive Vice President, Chief Technical Officer of PAO Sovcomflot since December 2012, while also being a member of the Management Board of the Company. Earlier, between 2008 and 2012, he was Vice-President for Fleet Operations and then President of Novorossiysk Shipping Company (Novoship, a subsidiary of Sovcomflot). Between 2006 and 2008, Igor Tonkovidov was Director of Volga-Baltic Company and between 2003 and 2006, he was Technical Director of Volga Shipping Company. Between 1994 and 2003, he served in various divisions of the Sovcomflot Group.