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UAC Head's Son Becomes Sukhoi Vice President

Artyom Pogosyan, the 27-year-old son of United Aircraft Corporation (UAC) president Mikhail Pogosyan, has been appointed a vice president of a UAC subsidiary, Sukhoi Civil Aircraft, Vedomosti reported Thursday.

Artyom Pogosyan was appointed as vice president for economics and finance on March 18, a source close to both companies told Vedomosti.

A company representative said Artyom was the most "competent manager to solve financial and economic problems facing Sukhoi Civil Aircraft."

An employee of one of Sukhoi's partners said Artyom had made the impression of a "competent professional" and is already taking part in negotiations with contractors.

Artyom Pogosyan graduated from the Higher School of Economics and, in 2011, obtained a Ph.D. from the Moscow Aviation Institute.  

He has been working at Sukhoi Civil Aircraft since 2005 and until recently held the post of a deputy vice president for economics and finance.

Sukhoi Civil Aircraft manufactures Sukhoi Superjet 100 aircraft. There are currently 179 Superjets on order, but the company is experiencing financial difficulties. Between January 2012 and September 2012, the company's revenues reached 4 billion rubles ($129 million), while its net loss was 2.5 billion rubles.

Oleg Panteleyev, head of the research department at Aviaport, said that Sukhoi Civil Aircraft needed tighter control over its financial flows and that Artyom Pogosyan faced a difficult task.

Artur Shamilov, chairman of the Top Contract recruitment agency, estimated Artyom's pay as a vice president of Sukhoi at about $300,000 per year.

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