MOSCOW. Feb 7 (Interfax) - Rostec plans to replace the management of Uralvagonzavod (UVZ) (MOEX: UVZD), Russia's leading manufacturer of armored hardware and heavy machinery, Rostec chief Sergei Chemezov said.
Asked by journalists on Tuesday whether UVZ management will be replaced, Chemezov replied, "It will."
He refrained from saying at the moment who will succeed the current UVZ general director, Oleg Siyenko.
"Once we change [the management], you'll know," Chemezov said.
President Vladimir Putin had signed a decree on the transfer of all shares in UVZ to Rostec on December 27, 2016. The government was given 18 months to implement the measures listed in the decree.
Chemezov had told journalists earlier that Russia could set up a holding company specializing in building armored hardware.
The military division of the Tractor Plants concern, which, in particular, manufactures armored fighting vehicles, was earlier merged with Rostec.
Kommersant had reported last December that Deputy Industry and Trade Minister Alexander Potapov might be appointed to head UVZ.