New chief for Russian Helicopters

Mikheev previously served as deputy CEO of Rosoboronexport. Russian Helicopters' outgoing CEO Dmitry Petrov will continue to work within parent company Rostec.
"Russian Helicopters' new leadership team has been tasked with strengthening the company's position on the global market and boosting profitability," said Sergey Chemezov, CEO of Rostec. "The company's strategy targets an increase in global market share to 18%-20% from the current 14% by 2020, including by expanding its presence in the CIS, China, India, the Middle East, Africa and Latin America."
"The company has confidently grown its core financial performance indicators alongside helicopter production and the order book. Today Russian Helicopters is entering a new stage in its development. We have to continue broadening our range of products, and strengthen our offering of commercial helicopters. With this solid foundation in place, I am confident that Mr Mikheev will succeed at leading the industry to produce further tangible results," he said.
By 2020 the Company plans to produce 470 helicopters annually, with revenue forecast to reach RUB 240 billion.
"Our company is already a leader in the global helicopter-building industry," said Mikheev said. "In 2012 Russian Helicopters produced the best results in the sector in terms of increasing delivery numbers. The company will continue to expand its offering of light helicopters, and will also focus on rolling out its service network and grow the share of revenue from after-sales service."
Born in 1961, Alexander Mikheev graduated in aeronautical engineering from Moscow Institute of Civil Aviation Engineering in 1985. In 2005 he obtained a masters' degree from the Military Academy of the General Staff of the Russian Armed Forces, and in 2006 graduated from the Russian Government Financial Academy. He holds a candidate degree in economics.