On July 15, the Board of Directors of PJSC SAFAI (SFI, former Safmar Financial Investments) terminated the powers of Avet Mirakyan, General Director, ahead of schedule.

He will be replaced by Igor Sidorov, who previously headed a number of companies in the field of investment and real estate management and was engaged in business in Russia and abroad, according to a press release from the holding.

Mirakyan, who headed the holding for the past five years, left the company along with part of the team to develop his own investment projects outside the holding’s perimeter.

An extraordinary meeting of shareholders in absentia (the closing date for voting ballots is September 8) will elect a new board of directors of the holding.

SFI is a public diversified investment holding whose asset portfolio consists of Russian companies. As of the end of last year, the SFI holding controlled about 11% of the ordinary shares of Russneft, 49% of the VSK insurance company, 100% of the Europlan leasing company, 10.4% in PJSC M.Video, as well as 51% in the cloud gaming service GFN.RU.