On November 14, 2016 Pavel Tyo was elected Chairman of the Board of Capital Group.
In this new capacity, Pavel Tyo will be responsible for strategic development, building a portfolio of high-potential sites for future projects, managing relations with strategic partners, and representing the company to public authorities both at the federal and Moscow level.
No changes in the Capital Group shareholding structure have been made. Vladislav Doronin and Eduard Berman have remained members of the board of Capital Group. Vladislav Doronin will continue managing the current development projects and develop new company business, specifically the fee-development business. Eduard Berman manages the construction operations of current projects.
“Today the company is challenged with forming and implementing a development strategy for the current economic environment and the depressed market conditions. During the past two years we have been actively investing in high-potential project sites, and we intend to keep building up our pool of sites for further company development over the next 10 years. We must also develop and implement a set of strategies that will allow us, in the current economic environment, to ensure the consistently high quality of construction that Capital Group is known for, both in our own projects and in projects with our strategic partners,” said Pavel Tyo.
He noted that the primary objective for the company today is to focus on its three strategic project sites. Number one is the premium residential complex on Sofiiskaya Embankment opposite the Kremlin, a project that includes the restoration of heritage mansions and new construction. Number two is the three new skyscrapers on Krasnopresnenskaya Embankment that are expected to be completed in a record short time for high-rise construction. And number three is the large-scale premium project on Taras Shevchenko Embankment occupying the site of the Badaevsky Brewery that includes both the reconstruction of pre-existing buildings and new construction.