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Deutsche Bank Executive Nominated for Russian Railways Board

Igor Lozhevsky, deputy head of Deutsche Bank for Eastern Europe, and Alexander Galushka, a co-chairman of the Delovaya Rossiya business association, have been nominated as new members of Russian Railways' board of directors, a news report said Wednesday.

Prime Minister Dmitry Medvedev approved a list of government candidates for the rail monopoly's board on Friday, Interfax said.

There are 11 seats on the company's board of directors.

The government appoints all board members because 100 percent of Russian Railways belongs to the state.

Among the current board members, Sollers CFO Nikolai Sobolev and Nikolai Kosov from International Investment Bank were not nominated for another term.

The rest of the current board members are expected to be re-elected.

They are: Kirill Androsov, a former deputy chief of staff of the Cabinet; businessman Grigory Beryozkin; Moscow Exchange Vice President Vladimir Gusakov; Dmitry Komissarov, chairman of Tekhkom's board; former Deutsche Bank CEO Hartmuth Medorn, Russian Holding Company chairman Alexander Ryazanov, former MTS CEO Vasily Sidorov; Alexander Shokhin, head of the Russian Union of Industrialists and Entrepreneurs, and Russian Railways President Vladimir Yakunin.

Gusakov, Lozhevsky, Medorn, Shokhin and Ryazanov were nominated as independent directors, Interfax said.

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