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North Caucasus Resorts Head Resigns

State-owned North Caucasus Resorts, which oversees a project to develop that region as a tourist destination, said it appointed its new acting CEO because the former one had resigned due to health reasons.

"Alexander Sadikov, who until today held the post of deputy CEO for government relations and infrastructure development, has been appointed as the acting CEO of North Caucasus Resorts. The former CEO, Alexander Nevsky, has resigned due to health reasons," it said in a statement posted on the company's website.

The press office said the reshuffle had nothing to do with the situation around the company's president and chairman of its board of directors, Akhmed Bilalov, according to Interfax.

Last week, President Vladimir Putin ordered to dismiss Akhmed Bilalov from "all positions" after blaming Bilalov, who was also a vice president of the Russian Olympic Committee, for delays and cost overruns at an Olympic ski jump site in Sochi.

Bilanov continues to feature as the president of North Caucasus Resorts on the company's official website.

"Only shareholders in a meeting can decide on the question of his resignation, the date for the meeting has not yet been set," the press office said, according to Interfax.

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