Roskosmos, the Russian federal space agency, has backed the nomination of Nikolai Sevastyanov as president of RKK Energia, Russia's main manufacturer of space vehicles. The agency hopes Sevastyanov will be able to pull Energia out of its financial crisis, because he has extensive experience in putting space and other major projects into practice and managing high-tech companies in modern market conditions.

Sevastyanov is managing director of Gazkom, which creates space systems, including ground satellite control complexes, implements telecom and television projects, and provides telecom services. It also produced the Yamal series of communications satellites and Strelka remote-sensing satellites for Gazprom – the first privately funded space project in Russia. The first two satellite launches are scheduled for 2007.

Sevastyanov's nomination is supported by the Russian government, which holds a 38.2% stake in the corporation, and by other shareholders owning 12.6% of shares, says Roskosmos.

Source: Flight International