Director Hendrik W. ten Bosch has been elected as vice-chairman. Maxim Ignatiev, who served as acting-chairman of supervisory board, will continue as a director and member of the remuneration and appointment committee.

In his capacity as managing director and head of corporate finance at Alfa Bank, Rafael Nagapetiants represents one of Amtel-Vredestein’s most significant shareholders. “We are pleased with this appointment,” said Petr Zolotarev, CEO and chairman of the tyremaker’s Executive Board. “It demonstrates an increasing commitment of Alfa-Bank, our largest shareholder, to support the company during this challenging period. As chairman, Mr. Nagapetiants will be able to devote more time to important issues and will more effectively guide the company as it strengthens its financial position.” (Tyres & Accessories/Staffordshire, U.K.)