Russian Boeing supplier fires manager

The concern “VSMPO Avisma”, which provides titanium for the American aviation giant Boeing, has fired its head, Sergey Stepanov. The decision was agreed at the meeting of the board of directors on 31st December.

The press-release, presented by RBC, states that the reason for the dismissal was due to family concerns, as well as the wish of the head manager to spend more time with his family and newborn daughter.

Dmitry Osipov was hired as the new head, who formerly led one of the world leaders of the fertiliser market, Uralkalii. Osipov is reported to have been signed for 3 years, until 2024.

The change of the leadership has been the third for the company in the past year. One of the former managers, Mihail Voevodin, had been sued by Avisma for 4 billion roubles (40 million British pounds) in a case of theft of the firm’s assets although the sum was later reduced to 1.7 billion.

VSMPO Avisma is the largest provide of titanium in the world, and is the main provider of the material for Boeing. The two firms continued to cooperate even after sanctions were imposed on Russia following the Crimean crisis.

Image credit: Emin Dzhafarov, Kommersant

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