OREANDA-NEWS. January 15, 2007. According to a decision of the Board of Directors of JSC “Sugar Company Razgulay” Mr. Igor V. Potapenko is appointed General Director of the Sugar sub-holding of the Group, reported the press-centre of “Sugar Company Razgulay”.

Mr. Potapenko will also retain his position as the President of Razgulay Group. This step was taken in light of strategic importance of the current stage of development of the Group’s sugar division. Over the past periods the Group made significant investments in the sugar division’s assets.

This necessitates focusing the efforts on ensuring the required ROI levels. The second reason for this decision is that the Group aims to ensure continuous development of the Group’s sugar business taking into account the extreme importance of state support to the sugar industry as a whole.

The Board of Directors has also terminated the powers of Mr. Oleg N. Nosenko, the former General Director of the sugar sub-holding. He has been offered an executive-level position with significant responsibilities within the Group.