Government handed over its share in the authorized capital of Uzbekistan’s only metallurgical plant - UzMetKombinat JSC for trust management to SFI Management Group, a foreign entity.
The new arrangement is aimed at achieving efficient management in line with modern practices of corporate management, including by introducing international standards for production, economic and investment processes.
From now on all deputy chairs of the board of UzMetKombinat shall be appointed and dismissed by the supervisory board on SFI Management Group’s approval. The company will be entitled to make proposals on changing the company's executive structure, with the chairman to be elected by the general meeting of shareholders and approved by the Cabinet of Ministers in coordination with the President of Uzbekistan.
