The Federal Agency for State Property Management, which owns 100% of Russia's Agricultural Bank (Rosselkhozbank), has decided on an early termination of the duties of Rosselkhozbank's Supervisory Board, elected in accordance with the Federal Agency's Executive Order No. 1091-r of June 6, 2009. At the same time, Rosselkhozbank Board Chairman Yury Trushin submitted his resignation, which was accepted.

The Federal Agency elected new members of the Supervisory Board and appointed a new chairman of the board.

The new Supervisory Board will include Yury Chikhanchin, head of Russia's Financial Monitoring Service; Tatiana Kulkina, Secretariat chief for First Deputy Prime Minister Viktor Zubkov; Igor Rudenya, director of the Government Department for Agro-Industrial Complex; Anatoly Ballo, deputy chairman of the Vnesheconombank state corporation; Dmitry Patrushev, senior vice president of VTB Bank; and Alexander Sobol, deputy board chairman of Gazprombank.

Dmitry Patrushev, who earlier held senior executive positions at VTB, was appointed to head the Rosselkhozbank board.

The newly elected Supervisory Board met today to elect its head; Viktor Zubkov, who was nominated by a government directive, was elected.

In his presentation at the meeting, Zubkov pointed out the strategic role of Rosselkhozbank for the national farming sector.

"Rosselkhozbank is a most important tool for supporting agricultural producers. Its effective operation is key to the productivity of millions of farmers, as well as to meeting the Government Programme goals. I expect the bank executives to exercise a comprehensive approach to decision-making," he emphasised.