Rusnano seeks police investigation into its Siberian subsidiary

Rusnano has asked Russia?s law enforcement to investigate into the activity and books of SUN Innovation Company, one of Rusnano?s assets.

Rusnano has asked Russia?s law enforcement to investigate into the activity and books of Novosibirsk?s SUN Innovation Company, one of Rusnano?s assets. Russia?s largest nanotech company is particularly interested to know how the company was run under the management of Vladislav Mirchev, SUN?s largest shareholder and ex CEO. Mr. Mirchev was fired from his position earlier this year, following a ?legitimate decision by the SUN board of directors,? Rusnano claimed, and the decision was a result of the then CEO?s ?inefficient project management.? Rusnano further claimed that Mr. Mirchev?s statement about ?the Rusnanio management wrecking SUN? had run counter to plain fact. Rusnano didn?t wreck the Siberian company; as a shareholder it just initiated an audit that revealed ?poor use of investments.? ?Specifically, Vladislav Mirchev forced through its ?golden parachutes? decision for the top management in spite of the board?s disapproval of the move,? Rusnano said...