WASHINGTON, April 18 (RIA Novosti) - Former two-term Colorado Governor Bill Owens will take over as chairman of the privately owned Credit Bank of Moscow’s supervisory board as it prepares to go public.
Owens will replace Sandy Vaci who stepped down on Tuesday after leading the bank for five years.
“I am glad that Bill Owens, a current member of the Supervisory Board, has accepted our nomination to take over from me,” Vaci said, praising Owens’s “wealth of board-level experience” and “strong financial background.”
“The Board will need a strong independent Chairman who can guide it through the IPO process and stay on afterwards - to provide the continuity investors demand. As I have been in the position for five years, I may not be able to fulfill that requirement,” Vaci said, adding that he might be deemed “too close to the business” if he stayed on.
Owens served as state treasurer in Colorado from 1995 to 1999, when he was elected to a first term as governor. He was also an independent director of the Russian shipping, logistics and port company, the Far Eastern Shipping Company (FESCO), and serves on the boards of several companies listed on the New York Stock Exchange.
