Global financial crisis forces Chubais into economy mood

Author: Olga Vasilyeva Section: Major Events of the Month

Issue: April 2009, Vol.4, No. 3

Tags: ChubaisRosnano

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Forced Economy 

Russian Nanotechnologies Corp. (Rosnano) plans to adopt strict economy regime as a part of its anticrisis measures. In this regard, Rosnano CEO Anatoly Chubais’ expenditures are to be drastically reduced, while all official flights will now be by economy class, rather than by chartered flights, as currently the case.

“This economy program envisages slashing all additional pays and all types of expenses, from planes and automobiles to pins, and this will enable us to save up to 200mln.rubs,” he added. “The program will be tabled by the board for deliberation and later submitted to the Advisory Council for adoption in April.”