OREANDA-NEWS  On 25 September was announced, that,  ARMADA (MICEX, RTS: ARMD) announced that Dmitry Milovantsev, one of the senior executives of the Ministry of Information Technology and Communications from 2002 to 2008, has joined the Executive Board of the company.

Dmitry Milovantsev made a valuable contribution to the industry’s development, and his input to the state-run programs E-Russia and E-Government must not be underestimated speaking of the increasing role of the public sector on the Russian IT market. As a candidate for the Executive Board, Mr. Milovantsev received unanimous support from ARMADA’s Board of Directors, largely due to his profound knowledge of the IT market and priceless experience in strategic governance.

“The consolidating strategy that ARMADA is currently pursuing seems very tempting to me, and this is precisely why I have accepted the proposal to join the group’s Executive Board,” said Dmitry Milovantsev.

“We believe that the appointment of such a qualified manager will lay down the foundation for the company’s growth in a long-term perspective. Mr. Milovantsev has unique experience and market expertise, which will help ARMADA work out a more efficient and aggressive investment policy, as well as take an advantageous position on Russia's rapidly-growing IT market,” said ARMADA CEO Alexei Kuzovkin.

The Executive Board, which is a new collegial executive body within the company, was established in September, 2008. The Executive Board will manage the company’s operating performance and is aimed to enhance the efficiency of the corporate governance as well as optimize the decision-making process and secure the rapid adjustment to the changing market environment. Alexei Kuzovkin (Chairman of the Executive Board, CEO of ARMADA), Maxim Selivanov (CEO of Soyuzinform) and Dmitry Milovantsev joined the Executive Board according to the decision of the Board of Directors.