Russia's lower house of parliament, the State Duma, extended Wednesday the tenures of five members of the bank's board, which ended September 27.
"I think Tatyana Paramonova is a highly qualified, experienced and industrious person, but she has not been good at tackling issues lately, as decisions have been implemented slowly and ineffectively," Sergei Ignatyev said.
He specified that Paramonova, who was acting chairman of the bank in 1994-1995 and worked on the board since 2002, had certain difficulties with the introduction of the real-time gross settlement system and the transition of the banking sector to International Financial Reporting Standards.
"I decided not to submit her candidacy for reappointment to the managing board," he said.
Central Bank board members are appointed for four years. To extend their tenures or appoint new members, the bank chairman submits their candidacies for the president's approval, which is followed by consideration in the State Duma.
