REC Board of Directors Appoints a New CEO and Confirms Achievement of 2019 Targets in Full
The Board of Directors of Russian Export Center JSC (REC) has made a decision to replace Andrey Slepnev, the current CEO of REC, by Veronika Nikishina, who has been a member of the Trade Board of the Eurasian Economic Commission (Minister) since 2016. Apart from that, the Board of Directors has confirmed achievement of the 2019 REC corporate performance indicators in full.
Last year, REC supported a total export volume of US$19.5 bln, while the target was US$17.2 bln. This is the highest value in the history of this state-owned institution established to support the development of non-resource non-energy exports sector. The figure grew by 3.7% in comparison with 2018 (the supported export volume was US$18,8 bln), 35.4% in comparison with 2017 (US$14.4 bln), 107.4% in comparison with 2016 (US$9.4 bln) and 195.5% in comparison with 2015 (US$6.6 bln).
A number of high-profile transactions were closed to export engineering products to Cuba, Egypt and Uzbekistan, implementation of projects in Turkmenistan was supported, large shipments of agroindustrial products were made to China, EAEU and EU. REC was one of the key promoters of the Russia-Africa Year, which held the Russia-Africa Economic Conference jointly with Afreximbank and acted as a co-promoter of the Russia-Africa Forum on the sidelines of the Sochi Summit. This resulted in creation of an institutional financing facility for trade operations with more than 10 African countries.
A target of 11 thousand supported exporters was also achieved. The number of exporters, which were supported in 2019, exceeded the target by 3% and the same value for the last year – by 8%.
Thus, in 2019, REC Group's financial instruments were used to support 12.6% of the total Russian non-resource non-energy export volume and considering the support REC provided as agents and promoters, the figure was 17.6%, which meets the best global benchmarks.
Last year, REC supported a total export volume of US$19.5 bln, while the target was US$17.2 bln. This is the highest value in the history of this state-owned institution established to support the development of non-resource non-energy exports sector. The figure grew by 3.7% in comparison with 2018 (the supported export volume was US$18,8 bln), 35.4% in comparison with 2017 (US$14.4 bln), 107.4% in comparison with 2016 (US$9.4 bln) and 195.5% in comparison with 2015 (US$6.6 bln).
A number of high-profile transactions were closed to export engineering products to Cuba, Egypt and Uzbekistan, implementation of projects in Turkmenistan was supported, large shipments of agroindustrial products were made to China, EAEU and EU. REC was one of the key promoters of the Russia-Africa Year, which held the Russia-Africa Economic Conference jointly with Afreximbank and acted as a co-promoter of the Russia-Africa Forum on the sidelines of the Sochi Summit. This resulted in creation of an institutional financing facility for trade operations with more than 10 African countries.
A target of 11 thousand supported exporters was also achieved. The number of exporters, which were supported in 2019, exceeded the target by 3% and the same value for the last year – by 8%.
Thus, in 2019, REC Group's financial instruments were used to support 12.6% of the total Russian non-resource non-energy export volume and considering the support REC provided as agents and promoters, the figure was 17.6%, which meets the best global benchmarks.
Pursuant to the decision of the Board, Andrey Slepnev will leave his office from February 9, while Veronika Nikishina will take the position on February 10. Upon completion of all intergovernmental approval procedures, Andrey Slepnev will take the office of the Trade Minister of the EEC.
BACKGROUND
Veronika Olegovna Nikishina
Veronika Nikishina held senior positions in the Ministry of Economic Development of the Russian Federation being a Deputy Director in the Department of Trade Negotiations and heading the Department of American Countries and the Department of International Business Coordination, Development and Control.
With a record of 17 years of work in the Ministry of Economic Development of the Russian Federation, Veronika Nikishina has a vast experience in identification and removal of various trade barriers, implementation of trade protection measures, veterinary, sanitary and phytosanitary measures, as well as an extensive experience in holding international negotiations.
Before she was appointed a member of the Board of the Eurasian Economic Commission, she held the office of an Assistant First Vice-Chairman of the Government of the Russian Federation.
Veronika Nikishina was appointed a member of the Trade Board of the Eurasian Economic Commission (Minister) in February 2016. She was responsible for a number of key areas for the Eurasian Economic Union, such as customs tariff and non-tariff regulation, establishment of preferential trade conditions with third countries (Free Trade Zones), implementation of protective measures by the Eurasian Economic Union.
PhD in Economics, defended a thesis on Management of Access to Foreign Markets for Russian Goods in Modern Conditions.
Andrey Aleksandrovich Slepnev
Born on September 13, 1969 in Bor, Nizhny Novgorod Region.
Andrey Slepnev finished Lobachevsky University of Nizhni Novgorod majoring in Applied Mathematics and Lomonosov Moscow State University majoring in Law.
He started his career in insurance, where it took him several years to make his way from a Project Manager to the CEO of the Russian Association of Motor Insurers.
2003 – 2005: Deputy General Director of the Coordination Board of the Associations of Russian Employers.
2005 – 2007: Director of the Department of Priority National Projects at the Presidential Administration of the Russian Federation.
In 2007, he took the office of the Deputy Minister of Agriculture of the Russian Federation, in 2009 – Deputy Minister of Economic Development of the Russian Federation.
February 2012 – January 2016: a member of the Trade Board of the Eurasian Economic Commission (Minister).
February 2016 – April 2018: held the positions of an Assistant Chairman of the Government of the Russian Federation D.A. Medvedev, Deputy Head of the Executive Office of the Government of the Russian Federation – Director of the Projects Department of the Government of the Russian Federation.
May 1, 2018: appointed the CEO of Russian Export Center JSC.
Veronika Olegovna Nikishina
Veronika Nikishina held senior positions in the Ministry of Economic Development of the Russian Federation being a Deputy Director in the Department of Trade Negotiations and heading the Department of American Countries and the Department of International Business Coordination, Development and Control.
With a record of 17 years of work in the Ministry of Economic Development of the Russian Federation, Veronika Nikishina has a vast experience in identification and removal of various trade barriers, implementation of trade protection measures, veterinary, sanitary and phytosanitary measures, as well as an extensive experience in holding international negotiations.
Before she was appointed a member of the Board of the Eurasian Economic Commission, she held the office of an Assistant First Vice-Chairman of the Government of the Russian Federation.
Veronika Nikishina was appointed a member of the Trade Board of the Eurasian Economic Commission (Minister) in February 2016. She was responsible for a number of key areas for the Eurasian Economic Union, such as customs tariff and non-tariff regulation, establishment of preferential trade conditions with third countries (Free Trade Zones), implementation of protective measures by the Eurasian Economic Union.
PhD in Economics, defended a thesis on Management of Access to Foreign Markets for Russian Goods in Modern Conditions.
Andrey Aleksandrovich Slepnev
Born on September 13, 1969 in Bor, Nizhny Novgorod Region.
Andrey Slepnev finished Lobachevsky University of Nizhni Novgorod majoring in Applied Mathematics and Lomonosov Moscow State University majoring in Law.
He started his career in insurance, where it took him several years to make his way from a Project Manager to the CEO of the Russian Association of Motor Insurers.
2003 – 2005: Deputy General Director of the Coordination Board of the Associations of Russian Employers.
2005 – 2007: Director of the Department of Priority National Projects at the Presidential Administration of the Russian Federation.
In 2007, he took the office of the Deputy Minister of Agriculture of the Russian Federation, in 2009 – Deputy Minister of Economic Development of the Russian Federation.
February 2012 – January 2016: a member of the Trade Board of the Eurasian Economic Commission (Minister).
February 2016 – April 2018: held the positions of an Assistant Chairman of the Government of the Russian Federation D.A. Medvedev, Deputy Head of the Executive Office of the Government of the Russian Federation – Director of the Projects Department of the Government of the Russian Federation.
May 1, 2018: appointed the CEO of Russian Export Center JSC.