Five representatives of Wildberries & Russ-linked companies have joined the new nine-member supervisory board of Uzbekistan’s national postal operator, UzPost. The group includes executives from the Russian company RVB and Uzbek-registered WB INT EXPORT, which is wholly owned by Russia’s Wildberries.
The new board was elected for a three-year term at an extraordinary general meeting of shareholders on September 21, according to materials published by Uzbekistan’s Unified Portal of Corporate Information on October 2.
The new UzPost supervisory board includes Akmal Primkulov, general director of WB INT EXPORT; Evgeny Mitin, director of RVB’s Investment and Control Department; Emil Khasyanov, deputy director of RVB’s Legal Department; Pavel Logunov, RVB’s chief financial officer; and Alexandra Khmeleva, director of the Regional Development Management Department at WB Bank.
The remaining four seats went to Oleg Pekos, first deputy minister of digital technologies of Uzbekistan; Shakhzod Usarov, a specialist at the Accounts Chamber; Muzzafar Astonakulov, a department head at the Ministry of Economy and Finance; and independent board member Roger Crook.
Representatives of Wildberries & Russ-linked companies therefore hold a majority on UzPost’s new supervisory board. The previous board was dissolved early. The extraordinary shareholders’ meeting was held with a quorum of 93.69%, while the minutes were finalized on September 30.
Wildberries said its representatives had joined the board to help modernize the postal operator, improve the quality and speed of its services, and support the development of e-commerce. UzPost will continue operating as usual, the company said, while gaining access to potential investment and technological support.
At the same meeting, shareholders considered a proposal for UzPost to obtain a 100 billion soum loan from WB INT EXPORT. The funds were intended to upgrade the company’s technical infrastructure, expand its network and modernize its facilities. The loan proposal was not approved, however, as all participating shareholders abstained from the vote. The proposed financing was to be provided at the Central Bank’s refinancing rate.
The board appointments do not in themselves mean that UzPost has been privatized or transferred under Wildberries’ control. Earlier, Uzbekistan’s Agency for State Asset Management said that no negotiations on the sale of UzPost were under way and dismissed reports of a completed privatization as unfounded.
Still, the new board gives Wildberries a substantial institutional presence in the governance of Uzbekistan’s national postal operator. For the marketplace, this could be strategically important as e-commerce expands and demand grows for nationwide parcel-delivery infrastructure.
