FESCO Transportation Group has appointed Arkady Korostelev as president, effective September 4, 2020.

Korostelev replaces Maxim Sakharov, who has been named first deputy president of FESCO.

Korostelev previously held executive positions at crude petroleum and natural gas extraction company Lukoil, and petrochemical company Sibur. He also served as vice president of commerce at FESCO.

The board of directors has also enlisted the help of consulting company Alvarez & Marsal to develop a medium and long-term strategy for the company.