Board of Directors

Sergey Generalov, Chairman, Non-Executive Director

After beginning his career in 1992 in the banking sector, Mr. Generalov gained valuable experience in financial management, while his fundamental education in the field of energy allowed him to subsequently occupy a number of senior positions in major oil companies. In 1998, thanks to the expertise he had gained in the energy industry, Sergey Generalov was called upon to serve as Fuel and Energy Minister, holding the position until 1999. In 1999, Sergey Generalov was elected to the State Duma, and, during his stint as a legislator between 1999 and 2003, he served as deputy chairman of the State Duma Economic Policy and Entrepreneurship Committee, as well as chairman of the Investor Protection Standing Commission of the State Duma.

In 2003, Sergey Generalov decided to focus his efforts on working in the field of private investments in the development of the economy and production in Russia. He founded and so far has remained the principal owner and president of the "Industrial Investors" Group - one of the country’s largest private investor in industrial and infrastructure projects.

Within his investment activities, Sergey Generalov has implemented a number of major projects in the Russian economy, such as "KrasUgol," "AgromashHolding," "Russian Alcohol," and the FESCO Transport Group. Mr. Generalov has always been actively involved in the management and development of his group’s acquisitions, including by occupying key management positions, such as chairman of the Board of Directors or president.

Along with his business activity, Sergey Generalov is also active in the social and political realms through participation in a number of major state and non-state organizations. For example, since 2001 Mr. Generalov has been a co-chairman of the "Delovaya Rossiya" all-Russian public organization; since 2003, he has been a member of the National Corporate Governance Council, as well as a member of the Russian Union of Industrialists and Entrepreneurs bureau, the chairman of the Competition Development Committee, and a member of the Transport Committee of the latter.

Between 2002 and 2005, he served as chairman of the Board of Directors of the Russian Association of Investor Protection. Since 2006, he has been a member of the Supervisory Board of IBLF Russia; and since 2008, a member of the International Advisory Council of the University of Oxford.

In 2008, Sergei Generalov was invited to join the Transport and Communication Commission under the Russian Federation Government, and since 2011 he has been a member of the Marine Board under the Russian Federation Government.

Mr. Generalov  graduated with honors from the Moscow Power Engineering Institute (MEI) in 1986 and in 1992 he graduated from the Ordzhonikidze Management School with a degree in "Management of international business activity."

Yury Gilts, CEO, Executive Director

Yury Gilts has rich experience in administrating major enterprises with wideYury Gilts geography, having tough operational and financial tasks. During significant period of time Yury held various managing positions in Fesco Group, including Group CEO. He managed rail freight group Rail Garant and was a board member at rail operator’s RusTransCom group companies, being first vice-president.  

Yury Gilts was born in 1968. He graduated from St. Petersburg University of Economics and Finance in 1994. Married, has three children.

Nikolay Levitskiy, Non-Executive Director

Nikolay LevitskiyMr. Nikolay Levitskiy was one of the founders of GEOTECH Holding. Since 2006, he served as President of GEOTECH Holding. Prior to this Mr. Levitskiy was First Deputy Head of the Komi Republic, Russia. Не has served as СЕО at CJSC EuroChem Mineral and Chemical Company from 2001 to 2003.  Mr. Levitskiy was Vice-President of OJSC Oil and Gas Company SLAVNEFT from 1998 to 2000.

Mr. Levitskiy graduated from St. Petersburg University of Economics and Finance named after N.A. Voznesensky with a degree in Economics. He also holds a PhD in Economics.

Sergey Gilev, Non-Executive Director

Mr. Sergey Gilev is the founder of Management Company "Inversion". Since 2014 to the present time he holds the position of CEO at MC "Inversion".  Previously, from 2011 to 2014 he was the head of the Debt center “Otkritie”. From 2009 to 2011 - CFO at Financial Corporation "Otkritie", member of the Managing Board. In 2009 he was Advisor to the General Director at Holding JSC "NPO" Precision systems". From 1996 to 2008 he worked in OJSC "MMC" Norilsk Nickel", where he made his career from the position of a leading specialist to the position of a department director.

Sergey Gilev graduated from Moscow Institute of physics and technology with a major "Engineer-mathematician" and from Finance Academy under the Government of the Russian Federation with a major "Finance and credit". He holds a Ph.D. in Engineering Science.

Vagan Gasparyan, Non-Executive Director

Since 2013 until present Mr. Gasparyan is the Deputy General Director of Sberbank Capital. Previously he was Vice chairman of South-Western bank – branch of Sberbank.

Has a Ph.D. in Economics.

Stephan Girard, Non-Executive Director

Stephan George Wladislas Girard has held a variety of executive positions
during his 28-year career with Schlumberger, all over the world. Currently
Stephan holds the position of Russia & Central Asia Finance Controller,
located in Moscow, Russia.
In the past he served as:
REMS financial controller, located in Paris, France (2011-2016),
WS Controller, located in Gatwick, UK (2006-2011),
SL Director of internal audit (2003-2006).

Stephan Girard graduated from Sorbonne University with a Masters in Finance (Paris, 1982) and is a French CPA (Certified Public Accountant).


Gerald Rohan, Independent Director

Mr. Rohan has over 20 years of experience in the energy consulting and financial services sector in Russia. From 1988 to 1993 he was Director of East European Energy consulting at Ernst and Young, USA. From 1993 to 2007 Mr. Rohan was Director of Energy Utilities and Mining of PricewaterhouseCoopers in Russia. He has been involved in a number of transactions in the oil & gas industry: privatization, acquisitions, and joint ventures.   In addition, he has implemented international accounting systems and practices at a number of major Russian oil & gas companies.  Since retiring from PwC in 2007, Jerry is active in Corporate Governance at the Board of Directors level, including board positions at OGK 5 (Russian subsidiary of ENEL), TGK 9 (elected as the Nominee Director of the EBRD), Russian Platinum and Transcontainer. Currently he is professor of Corporate Governance at Moscow State University Higher School of Business. 

Mr. Rohan holds a Bachelor of Arts and an MBA degree from Iona College, New Rochelle, New York, USA. He is the Fellow of the UK Energy Institute and a co-chair of the Energy Committee of the American Chamber of Commerce in Russia.

Nikolay Arutyunov, Independent Director

Mr. Nikolay Arutyunov has a two decade experience in investment banking, both on sell and buy-side, and significant practice as a corporate top executive at a number of Russian businesses. He was Head of Research at NCH Advisors, largest foreign investment fund in Russia and CIS in 2006-2011. Later he joined UBS London EMEA sales desk as Executive Director. Currently he is Head of Sales Finance at Sukhoi Civil Aircraft. Throughout his career he has been elected multiple times as independent non-executive director of the Board in such companies as Irkut, Centertelecom and Acron. In 2009 he was voted the best independent director by API Russia.

Mr. Arutyunov graduated with honors from Lomonosov Moscow State University with a degree in Economics. He is married and has a daughter.