Ruslan Alihanov, 37, has been appointed president and CEO of the Far Eastern Shipping Company (Fesco) of Russia. He takes over from Yury Gilts, who is now responsible for Fesco's strategic development. Alihanov lacks shipping experience, but has worked at the World Bank and then McKinsey & Co. While Fesco's revenues grew by nearly 5% in 1Q13 year-on-year, to $275M, its EBITDA contracted by 4% to $48.4M. Cost cutting and layoffs are reportedly Alihanov's priority.
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