The shareholders, Russia's Dilon, which owns 72% in SIJ, and the state with a controlling stake, appointed Dmitry Davydov and Mitja Križaj, a non-executive director of the Bank Asset Management Company, as new supervisors at Friday's AGM.

The supervisory board and management were granted discharge of liability for 2016, while Deloitte Revizija was appointed auditor for this year, shows a report published on the website of the AJPES agency for public legal records.

The SIJ group made EUR 51.3m in net profit last year, almost four-fold of what it made the year before. Sales revenues stood at EUR 842.7m, up more than a quarter (26.8%) compared to 2015, show unaudited consolidated figures published today.

In January-March, the group generated EUR 256m in sales revenues, a third more than in the same period last year. Net profit was at EUR 7.1m.

There have been some changes in SIJ management recently; chief executive director and board member Denis Mancevič, and chief financial officer and board member Igor Malevanov resigned for personal reasons in May.

The supervisory board appointed Dmitry Bochkarev to the management board, which continues to be headed by Andrey Zubitsky.