OREANDA-NEWS. July 13, 2010. OAO ARMADA, (MICEX, RTS: ARMD) announces the election of a new Board of Directors by the annual general meeting of shareholders held on June 26, 2010. Alexei Kuzovkin, Azer Badalov, Maxim Selivanov and Alexander Kutuzov have all been re-elected to the Board of Directors, as well as independent directors Yuri Mostovoy and Viktor Potekhin. Independent director Vyacheslav Amelin resigned, however, as he accepted a position with the government. Marina Shestakova, a partner at Wermuth Asset Management GmbH (WAM), became the new independent director.

As a director of ARMADA, Marina Shestakova represents minority shareholders, including Greater Europe Funds advised by WAM.

Ms. Shestakova has been with WAM since 2004, and apart from being a partner at the company, she now holds the post of Deputy CIO for listed investments. She holds degrees from the Lomonosov Moscow State University and the New Economic School, and is also a CFA charterholder.