I Was Only Token CEO at Reltec International, Industry & Trade Minister Claims

8 February 2012 (10:20)

Deputy Head of Sverdlovsk Region Government and the region’s Minister for Industry & Science Alexander Petrov offered some comments on receiving a punitive reprimand for combining state service with being the Managing Director of Reltec International s.r.o. based in the Czech Republic.

The information to this extent was earlier checked on by the regional public prosecution authorities. It was revealed that in 2005-2011, Petrov was the Managing Director of a profit-making company ReltecInternationals.r.o, whereas under the existing legislation, a member of Sverdlovsk Region Government cannot get engaged in any entrepreneurial activity either personally or through authorized representatives, which includes a ban on the management of any enterprise, regardless of this enterprise’s organizational and legal form. The region’s prosecutor informed acting Governor of Sverdlovsk Region that this legal violation should be eliminated. After the documents had been considered, Alexander Petrov had to face disciplinary liability in the form of a punitive reprimand.

‘I can clarify the following: due to a legal error I was formally the Managing Director of Reltec International s.r.o. between 2005 and December 2011; however, I actually submitted the application for my resignation at the time of my appointment with Sverdlovsk Region Government. This application was not processed properly by the Czech Republic’s registration authorities. I was able to eliminate this violation in December 2011. I would also like to point out that I did not gain any profit from the company’s performance,’ the Minister said.

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