OREANDA-NEWS. December 14, 2009. The restructuring of the Svyazinvest Group of companies is off to a flying start.  The director general of Svyazinvest Evgeny Yurchenko signed an order to establish the Steering Committee, which should coordinate the entire restructuring process.

Members of the Steering Committee include first deputy general director of Svyazinvest Alexander Provotorov, deputy general directors Mikhail Leschenko, Alexey Lokotkov, Viktor Savchenko, Elena Umnova, and Nadezhda Filippova.  The committee is to be headed up by the director general of Svyazinvest, Evgeny Yurchenko.The Steering Committee is to become the main body empowered to adopt decisions during the integration process of the Svyazinvest Group of companies.The main issues under the scope of the committee will be to coordinate the legal and organizational measures required to drive forward the merger process.  The committee will also be in charge of approving an overall work plan and the budget for the restructuring, adopt decisions on key issues of the reform process and give a step-by-step evaluation of the work performed.

In addition to the establishment of the Steering Committee a model was approved for managing the restructuring process of the Svyazinvest Group of companies.  According to the procedure sanctioned by the holding, the decisions of the Steering Committee are subject to approval by the company’s board of management, if necessary. The methodological and coordination hub for projects related to the integration procedure will be the Working Group, whose members will include employees from the holding’s strategy, economic and finance divisions.  The Working Group is in charge of working out plans, allocating resources, monitoring the implementation of projects, and also drafting decisions adopted by the Steering Committee.

The plan is for the approved model to be become effective within three months.Restructuring of the Svyazinvest Group of companies is to be carried out in the form of a merger between the regional telecommunications operators (RTOs) and Rostelecom.  The restructuring process of the Svyazinvest Group of companies is expected to be completed in spring 2011.