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New Energia president elected
Posted: Mon, May 30, 2005, 10:08 AM ET (1408 GMT)
Shareholders of Russian aerospace corporation Energia elected a new president on Saturday, replacing its long-time leader with a man backed by the Russian government. At RSC Energia's annual shareholders meeting outside Moscow on Saturday representatives elected Nikolai Sevastyanov as the company's new president, replacing Yuri Semonov. Sevastyanov, head of satellite communications company Gaskom, was backed by the Russian space agency Roskosmos in the contentious election, as Semonov and his backers struggled to retain their jobs. Roskosmos officials said earlier in the month that Energia's continued losses and increasing debt required a change in leadership, hence their support for Sevastyanov. The Russian government owns 38% of Energia; Sevastyanov won the support of over 57% of shareholders in Saturday's vote. Energia manufactures the Soyuz and Progress spacecraft used to service the International Space Station, as well as the Block-D upper stage and other spacecraft. Energia has also been working on the design of a new manned spacecraft, Kliper, an effort which Sevastyanov said will continue under his leadership.
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