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City Official Appointed Izhmash CEO

Konstantin Busygin, head of Moscow's Solntsevo district, has been appointed CEO of arms producer Izhmash, Deputy Prime Minister Dmitry Rogozin said.

The move follows a dispute between the company's top executives and a number of long-serving employees over management efficiency and the appointment of a CEO.

"Konstantin Busygin, an experienced and strong executive, has been appointed head of Izhmash," Rogozin wrote on his Twitter account.

Busygin has stepped down as head of Solntsevo — a district in the west of Moscow —  on his own initiative, Interfax reported, citing a City Hall source.

Earlier, Rogozin proposed merging arms manufacturers Izhmash and Izhmesh into a single conglomerate named after Mikhail Kalashnikov — the inventor of the world famous AK-47 assault rifle — who used to work at Izhmash.

The company manufactures small arms, cutlery, gas meters and other products. In 2011, bankruptcy procedures were initiated against 20 Izhmash affiliates as part of the company's restructuring.

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