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- October 16, 202612°
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Russia places Western companies’ assets under temporary state management
Russia has placed the assets of Auchan, Lemana Pro, FM Logistics and Nestlé under temporary state management. New managers have been appointed at three companies, while some former executives will remain in their positions.
Russia has transferred the in-country assets of Western companies to temporary state management and appointed new managers to lead Auchan Retail Russia, Lemana Pro and FM Logistics.
Auchan Retail Russia, which was placed under temporary management under a decree signed last week by Russian President Vladimir Putin, will be headed by Ilya Berdnikov. Asya Balabay, the company’s former general manager, will continue overseeing the day-to-day operations of its stores under Berdnikov, who previously worked at Russia’s state property management agency.
Lemana Pro will be managed by Denis Isayev, the son of former State Duma deputy Rizvangadzhi Isayev. The former general manager of the home-improvement chain, previously known as Leroy Merlin, will remain in the post and work with Isayev.
Yevgeny Nenashev, who previously held a public-sector position in housing in the Moscow region, has also been appointed to lead FM Logistics. It remains unclear whether Oleg Alhamov, who has managed the company since 2021, will stay in his position.
Assets transferred to L. E. V. Management
The Russian assets of Auchan, Lemana Pro and FM Logistics were placed last week under the temporary management of L. E. V. Management, together with the in-country assets of Swiss food company Nestlé. The company is headed by a figure who previously served in the police force with the rank of general.
Nestlé Russia will continue operating under the management of General Manager Denis Voytyuk under the new state oversight.
Decisions carry a message for Europe
Aleksandr Shokhin, head of Russia’s largest business organization, said the latest seizures targeting Western companies should be viewed as a preventive message to officials in Europe.
Shokhin said the decisions, taken amid discussions over the possible use of Russian assets frozen in the West to finance Ukraine, were intended to show that Russia could respond.
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