Northern Capital Gateway LLC Announces Appointment of Leonid Sergeev as General Director

Northern Capital Gateway LLC (NCG), the management company of Pulkovo Airport, is pleased to announce today that the Board of Directors has appointed Leonid Sergeev as General Director, effective May 12, 2019. Vladimir Yakushev, who has been General Director of NCG since 2016, will continue to serve the company in this role until May 11, after which he will leave to pursue his own projects.

Leonid Sergeev’s priority areas of focus include the ongoing improvement of the company’s operational efficiency to support the company’s recently adopted long-term strategy, further development of Pulkovo as one of the leading Russian and European air transport hubs, and pursuit of terminal and other infrastructure expansion opportunities.

Mr. Sergeev has more than 25 years’ experience in strategic and operational management in the aviation, oil & gas, metallurgy and banking industries. He previously worked in the Basic Element Group, where he was in charge of managing turnarounds of businesses and strategic projects within various companies of the group. From 2012, he was the General Director of Basel Aero (one of Russia’s largest airport holding groups which manages airports in Krasnodar, Sochi and Anapa). During his tenure, he increased the efficiency of Basel Aero’s operating and commercial activities, and successfully introduced a number of production and service quality control systems. He was in charge of the Basel Aero’s preparation for the 2014 Winter Olympics and Paralympics, Formula-1 Grand Prix, as well as for the 2018 FIFA World Cup. Prior to his tenure at Basic Element, Mr. Sergeev headed the asset purchase and sale division in the Global Business Development Department of Royal Dutch Shell. Prior to Shell he was in charge of the development strategy of one of Russia’s largest regional banks.

Leonid Sergeev graduated with honors from the Ural State Technical University and earned his MBA from the International Institute for Management Development IMD (Lausanne, Switzerland).

Vladimir Yakushev headed the Pulkovo Airport management company since May 2016. Under his leadership, a joint program between the airport and the St. Petersburg administration was developed to support the introduction of new strategic flight destinations, the presence of leading Russian airlines, S7 Airlines and Pobeda, was significantly expanded at Pulkovo, an in-house NCG Aviation Training Center was created, and hosting of teams and fans of the 2018 FIFA World Cup was successfully conducted. Between 2016 and 2018, passenger traffic through Pulkovo Airport increased by one third, reaching a record high of 18.1 million people in 2018. Over this period NCG’s revenue increased by 43% and exceeded RUR 20 billion in 2018. During his tenure Pulkovo Airport won the passenger vote of the “Air Gates of Russia” award as the best of the largest airports (>10m PAX) and most comfortable airport in Russia three years in a row (2016–2018). Northern Capital Gateway LLC thanks Mr. Yakushev for his strong contributions to the further development of Pulkovo Airport and wishes him continued success in his future endeavours.

Pulkovo Airport ranks fourth amongst airports in Russia in terms of passenger traffic and is the country’s largest airport outside the Moscow Aviation Hub. During 2018, Pulkovo served 18.1 million passenger, ahistorical high for the company. The Northern Capital Gateway LLC, a consortium of Russian and international investors, has been the operator of Pulkovo Airport since 2010. The company manages the airport under a public-private partnership (PPP) agreement with the City of St. Petersburg and implements its reconstruction and development project. This PPP agreement is the first and largest in Russia’s airport industry. The shareholders of NCG LLC include VTB Capital, Fraport AG (an international airport operator headquartered at Frankfurt am Main Airport), Qatar Investment Authority (the sovereign wealth fund of the State of Qatar), and a consortium of investors comprising of the Russian Direct Investment Fund (RDIF), the Russia-China Investment Fund (established by RDIF and China Investment Corporation), Mubadala Investment Company (UAE),other leading co-investors from the Middle East as well as Baring Vostok Private Equity Fund V and a number of related funds (Baring Vostok).