Russian director resigns from Winnipeg farm equipment maker
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Hey there, time traveller!
This article was published 02/03/2022 (465 days ago), so information in it may no longer be current.
The ongoing Russia-Ukraine war has brought conflict and a board shake-up to Winnipeg-based farm machinery manufacturer Buhler Industries.
The publicly traded Canadian firm announced Wednesday it had accepted the resignation of Russian national and parent company co-owner Konstanin Babkin, replacing him on its board of directors with Adam Reid (vice-president of sales and marketing).
On Feb. 24, Russia invaded Ukraine, sparking a week of heavy fighting and pushing an estimated 800,000 people to flee the eastern European nation.
“Mr. Babkin has been a vocal supporter of the actions taken by the Russian Federation. These views are in stark contrast to those of the North American executive team and do not reflect the position or values of Buhler Industries,” the company said in a news release Wednesday.
“Buhler Industries Inc. continues to strongly oppose the decisions of the Russian Federation and stands with the people of Ukraine. In light of the current situation, the company has made several changes to the board of directors to align the organization with the values of the Canadian-based leadership team.”
Buhler also announced the role of board chairman would now be held by Grant Adolph, a Canadian who has been with the company since 1975. Former chairman, Russian national Dmitry Udras, remains on the board.
Company founder John Buhler is retiring from the board, and will be replaced with former company president Ossama AbouZeid, the release said.
Chief executive officer Yury Ryazanov, Udras and Babkin are co-owners of the Russian conglomerate that controls 97 per cent of Buhler Industries shares.
