Amtel-Vredestein CFO to Join Investment Bank

Amtel-Vredestein NV (AV), a pan-European tyre manufacturer with operating facilities in Russia and the Netherlands, today announced that its chief financial officer, Victor Nekrasov, will leave the company to join a leading international investment bank.

According to AV CEO Alexey Gurin, Victor Nekrasov did an outstanding job and has built a great financial team. We have also inherited a very experienced team through our acquisition of Vredestein Banden earlier this year. So the new CFO will be stepping into some very comfortable shoes.

The company has already begun the search for a new CFO and will make an announcement as soon as possible. In the meantime, Mr Nekrasov will continue with his responsibilities and is hoping to provide a smooth transition for the new CFO.

Amtel-Vredestein NV also announced that it has announced that its Amtelshimprom subsidiary has repaid a ruble bond in the amount of 600 million rubles ($20.8 million). According to the company, the debt was repaid primarily using proceeds from the company’s listing November IPO on the London Stock Exchange.