Vladimir Yevtushenkov

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Vladimir P. Yevtushenkov
Vladimirevtushenkov2011.jpg
Born 25 September 1948 (1948-09-25) (age 69)
Residence Moscow, Russia
Nationality USSR → Russia
Net worth US$3.3 billion (Forbes April 2017)[1]
Spouse(s) married
Children 2

Vladimir Petrovich Yevtushenkov (Evtushenkov) (Russian: Владимир Петрович Евтушенков; born 25 September 1948) is a Russian billionaire business oligarch. He is the majority owner and chairman of Sistema.

Early life[edit]

Yevtushenkov has master's degrees in chemistry (1973, from D. Mendeleev Moscow Chemical Engineering Institute) and economics (1980), and a PhD in economics (1986).[2] Yevtushenkov worked as an engineer at Karacharovo Plastics Works until 1982, and as chief engineer and first deputy general director of the Polymerbyt Scientific and Production Association until 1987, when he was appointed as the head of the Department of Science and Technology for the Moscow city government.[3][4]

Yevtushenkov resigned in 1993 to establish Sistema.[5]

Career[edit]

Since 1995 he is the major shareholder and chairman of the board of the Russian investment holding company Sistema (together with another Top Managers such as Evgeny Novitsky[5]). Sistema was an early shareholder in Russian mobile telecommunications pioneer VimpelCom, and sold its stake when the company was the first Russian company to list on the New York Stock Exchange in November 1996.[6] Yevtushenkov took Sistema public in February 2005, in a $1.35 billion IPO that was Russia's largest ever at the time.[7] Today Sistema is the largest shareholder in MTS, Russia's largest telecommunications company.[8] Other major Sistema assets include children's goods retailer Detsky Mir,[9] pulp and paper holding Segezha Group , Russia’s largest chain of private healthcare clinics MEDSI[10] etc.

In 2009, Sistema purchased oil and gas companies in the Republic of Bashkortostan.[11] This would be the foundation of the oil and gas company Bashneft.

Currently, Yevtushenkov owns 64% of the total conglomerate.[12] In 2014, according to Forbes, he was Russia's 15th richest businessman with a fortune of around US$8.3 billion. On the Forbes 2016 list of the world's billionaires, he was ranked #722 with a net worth of US$2.4 billion.[1]

Bashneft and house arrest[edit]

In September 2014 Russian investigators placed Yevtushenkov under house arrest, accusing him of money-laundering in connection with the acquisition of shares in oil producer Bashneft. 72% of Bashneft's shares were owned by Sistema. Sistema said it considered the accusations baseless.[13] In December 2014 as ruled by the Moscow Arbitration (Commercial) Court Bashneft was re-nationalised. Following the return of Bashneft to State ownership, in February 2015 the Moscow Arbitration Court awarded Yevtushenkov’s Sistema RUB 70.7 billion ($1.1 billion) in damages from the loss of Bashneft.[14] And in January 2016, all the accusations against him in connection with the acquisition of Bashneft has been dismissed as it was found that no crime had been committed.[15][16]

Personal life[edit]

He is married with two children, and lives in Moscow.[1]

References[edit]

  1. ^ a b c "The World's Billionaires: Vladimir Yevtushenkov". Forbes. Retrieved 19 April 2017. 
  2. ^ "Profile: Who Is the Arrested Billionaire Vladimir Yevtushenkov?". The Moscow Times. Retrieved 3 December 2015. 
  3. ^ Weaver, Courtney. "Vladimir Evtushenkov, Sistema chairman". Financial Times. ISSN 0307-1766. Retrieved 3 December 2015. 
  4. ^ "Stock Quotes & Company News". Reuters.com. Retrieved 3 December 2015. 
  5. ^ a b "Washingtonpost.com: Russia Special Report". WashingtonPost.com. Retrieved 3 December 2015. 
  6. ^ "VimpelCom marks third anniversary of NYSE listing amidst record subscriber growth – VimpelCom". www.vimpelcom.com. Retrieved 2 November 2016. 
  7. ^ "Sistema's London listing is biggest Russian IPO". The Independent. 15 February 2005. Retrieved 2 November 2016. 
  8. ^ "Data Downloads". Acm-consulting.com. 9 June 2011. Retrieved 19 April 2017. 
  9. ^ TASS (30 September 2016). "Detsky Mir children's goods retailer maintains plans for IPO". Russia Beyond The Headlines. Retrieved 2 November 2016. 
  10. ^ Ellyatt, Geoff Cutmore, Holly (22 September 2016). "These are Russia's next boom industries that we're investing in: Sistema CEO". CNBC. Retrieved 2 November 2016. 
  11. ^ "Bashneft Sustainability Report 2009" (PDF). 
  12. ^ http://www.sistema.com/fileadmin/user_upload/results_disclosure/sistema_ar15_eng_shortversion_web.pdf
  13. ^ "Sistema's Chairman, Vladimir Yevtushenkov, Under House Arrest – ROGTEC". ROGTEC. 17 September 2014. Retrieved 2 November 2016. 
  14. ^ "Sistema Wins $1.1 Billion Claim Against Seller of Bashneft". Bloomberg.com. Retrieved 2 November 2016. 
  15. ^ "Criminal case against Vladimir Evtushenkov dropped – RNS – London Stock Exchange". www.londonstockexchange.com. Retrieved 2 November 2016. 
  16. ^ "Russian Oligarch Yevtushenkov Cleared of Charges in Bashneft Case". Retrieved 2 November 2016. 

External links[edit]