Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Yurchenko Quit Over 'Intrigues'

Svyazinvest chief executive Yevgeny Yurchenko said in an interview published Wednesday that he decided to quit because of the intrigues and shadow management of the telecoms holding by investment fund Marshall Capital Partners and its co-owner Konstantin Malofeyev.

Yurchenko said Friday he resigned because he opposed allowing “one private individual to manage a state asset, regardless of what a great raider of Russia he is,” Kommersant reported.

Asked whether he was referring to Malofeyev, Yurchenko replied, “Yes,” in Wednesday’s interview with Vedomosti. “De facto, the controlling stakes of Svyazinvest and all its subsidiaries belong to Marshall Capital and Konstantin Malofeyev,” Yurchenko said.

Malofeyev told Vedomosti on Monday that he would not respond to “unsubstantiated accusations by an offended, fired manager.” Marshall Capital Partners spokeswoman Yelena Zubova said by phone that they had no additional comment. Malofeyev created the fund with partners, according to the company’s web site.

Yurchenko said Marshall Capital’s “former and current” executives now working in the company ignored him when making decisions. The last straw, he said, was the appointment of Alexander Provotorov, a former Marshall Capital employee, as chief of Rostelecom in July — a position he wanted.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more