Ex-president of Armenia included in list of candidates for election to the new Board of Directors of JSFC Sistema

ArmInfo. Ex-president of Armenia Robert Kocharyan has been included in the list of candidates for election to the new Board of Directors of JSFC Sistema, the company reported on May 23. The source says that Sistema JSFC (LSE: SSA, MOEX: AFKS), a publicly-traded diversified holding company operating primarily in Russia and the CIS, announces the resolutions adopted at a meeting of the Board of Directors of JSFC Sistema that took place on May 21, 2016.

The Board of Directors approved the list of 11 candidates for election to the new Board of Directors of JSFC Sistema at the Annual General Meeting of shareholders (AGM) of JSFC Sistema to be held on June 25, 2016. Six of the 11 candidates fulfill the criteria for independent directors as set out in the Federal Law on Joint-Stock Companies, and by Moscow Exchange and the Russian Corporate Governance Code.

The list of candidates for the Board of Directors of JSFC Sistema comprises: Vladimir Evtushenkov, Sergei Boev, Andrey Dubovskov, Felix Evtushenkov, Patrick Clanwilliam (independent director), Robert Kocharyan (independent director), Jeannot Krecke (independent director), Peter Mandelson (independent director), Roger Munnings (independent director), Mikhail Shamolin, and David Yakobashvili (independent director).

The Board of Directors also elected Artem Zasursky, Vice President and Head of Strategy of JSFC Sistema, to the Company's Management Board.

Sistema is a publicly-traded diversified holding company in Russia and the CIS, which is a major shareholder of companies serving over 100 million customers in the sectors of telecommunications, high technology, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Founded in 1993, the Company reported revenues of RUB 708.6 billion for 2015, and total assets of RUB 1.3 trillion as at December 31, 2015.  Sistema's global depositary receipts are listed under the symbol "SSA" on the London Stock Exchange. Sistema's ordinary shares are listed under the symbol "AFKS" on the Moscow Exchange.