Yarov Nominated for Head of United Shipbuilding Corp.

Yury Yarov, director of the Severnoye ship design bureau, has been nominated for president of the United Shipbuilding Corporation (USC), the Industry and Energy Ministry said recently. Yarov was deputy prime minister in 1992 - 1996 and occupied several positions in the presidential administration in 1996 - 1999. Russian President Vladimir Putin signed the USC -founding decrees last March. The corporation with authorized capital of $44m will integrate all state shipbuilding assets. Deputy Prime Minister Sergei Naryshkin will head the USC board of directors. The corporation will include three divisions registered in the Kaliningrad Region, Severodvinsk and Vladivostok. The registration of the new joint-stock company is to be conducted in coming days in Saint-Petersburg. [Source: http://en.rian.ru]