Tagir Sitdekov: Biography and Career of a Top Manager at AFK Sistema

Sitdekov Tagir

The Tagir Sitdekov biography has largely been dedicated to investments. A seasoned manager and financial expert, he became part of the Sistema investment corporation in 2021, serving as a managing partner responsible for diverse business operations. In the following year, Sitdekov Tagir Alievich assumed the role of president at AFK Sistema. And today, as the head of the corporation, he is introducing new methods for developing core assets, including the implementation of the ESG agenda.

Tagir Sitdekov has made a name for himself throughout his long career as an agile manager, capable of handling complex tasks and diverse activities.

Tagir Sitdekov: Biography

Sitdekov Tagir was born on December 6, 1976, in the capital of the most expansive nation in the world. Little is known of the future executive's early life, but he did attend and graduate from high school in his hometown.

Sitdekov Tagir Alievich would then go on to earn two higher education degrees, which he received 11 years apart.

Tagir Sitdekov first graduated from the prestigious Plekhanov University of Economics, then known as the Academy of Economics, named after Georgy Valentinovich Plekhanov. This institution, the oldest economic university in the country, is not only renowned for its high level of professional graduate training, as classified by various rating agencies, including the Expert Rating Agency (class C university), but also stands among the world's top three universities in alignment with the UN's Sustainable Development Goals. Sitdekov Tagir completed his degree in economics in 2001.

Sitdekov Tagir Alievich, already possessing managerial experience, later pursued an Executive Master of Business Administration degree at the University of Chicago Booth School of Business, a renowned talent pool for Wall Street. This institution is celebrated for its rigorous academic standards, a keen focus on business and management research, and robust finance and economics programs. The background that Tagir Sitdekov had in management enabled him to excel in the specialized training program, equipping him for entry into the highest echelons of company leadership.

Tagir Sitdekov Biography of Work: From Consulting to Investments

Sitdekov Tagir, with over 25 years in business development, initiated his career at PricewaterhouseCoopers (PwC), a global consulting market giant and one of the four largest professional service networks worldwide. During his tenure at PwC, he specialized in business development consulting. In particular, he was appointed to oversee the energy and mining industries and also conducted audit consultations, playing a key role in the company's engagement with these critical sectors.

Sitdekov Tagir Alievich has a career trajectory that includes extensive experience in offering consultation to leaders of industrial enterprises on various issues. Having honed his skills at PwC, he transitioned to the more specialized field of investment banking in the financial market in 2001 at a subsidiary of the Austrian-based Creditanstalt Investment Bank, where he initially joined as a senior consultant and subsequently acquired significant expertise in investment banking.

Tagir Sitdekov began his journey in managing large enterprises in earnest in 2003 when he took on a crucial role at the Sochi Thermal Power Plant (TPP), then a burgeoning energy company. After a two-year stint at the influential Austrian investment bank, the future executive assumed a senior position at Sochi TPP, becoming the head of the financial unit of this vital energy facility on the Black Sea coast. During his tenure, he was pivotal in commissioning several combined-cycle power plants and played a key role in the plant's growth, especially in the lead-up to the 2014 Olympic Games.

At Sochi TPP, which was still under construction at the time of his joining, Sitdekov Tagir was responsible for its financial management, a task critical for the plant's successful operation and expansion. Under his financial leadership, the plant launched its first two power units in late 2004 and was connected to the power lines in the following spring. His strategic approach was guided by the plant's goals, focusing on assessing the power-generating enterprise's development prospects and formulating relevant financial plans in line with market conditions.

Tagir Sitdekov offered effective management that ensured the financial stability of this significant infrastructure facility, which was crucial for its further development. In the following years, his career was focused exclusively on investments. He held various senior management positions over the next 15 years.

Tagir Sitdekov-AFK Sistema: Creating the Business of the Future

Sitdekov Tagir Alievich, with two decades of experience in investment under his belt, took on the most high-profile position of his career in 2021. In that year, he was invited to become a managing partner of the multi-profile investment corporation Sistema - one of the largest employers in the domestic economy, focusing on future technologies, innovative solutions, new and key sectors of the economy, and the consolidation and modernization of traditional industries.

At AFK Sistema, Tagir Sitdekov, in his new role as a managing partner, oversaw the development of a number of assets, including the corporations' biotechnical and medical portfolio as well as the pharmaceutical cluster.

Tagir Sitdekov: Biography of Subsidiary Companies

Under Tagir Sitdekov, AFK Sistema developed a strategy for the corporation's portfolio companies that turned out to be exceptionally effective.Top of Form

Tagir Sitdekov led Sistema's biopharmaceutical subsidiary company to remarkable growth and success. In 2021, the holding's revenue surged by 19.3%, reaching 25.5 billion rubles, indicative of its expanding influence in the relevant sector. This upward trajectory continued as the company's focus on developing its portfolio led to it becoming one of the top ten major players in retail medications by 2022.

The pharmaceutical company operates five state-of-the-art, high-tech manufacturing facilities, employing over 4,000 individuals. The company boasts nearly 500 registration certificates for various medicinal products, catering to both hospital and pharmacy market sectors. This extensive range of products and a strong workforce underpin the company's growing market presence.

Sitdekov Tagir also inspired the medical asset to intensify its expansion into international markets, significantly boosting export revenue. By meticulously studying and adapting to new distribution channels, the company crafted a strategy tailored to the unique characteristics of each target country. This approach made the holding a market leader in Kyrgyzstan and ranked among the top ten in Kazakhstan, Azerbaijan, and Uzbekistan.

Sitdekov Tagir Alievich emphasizes that the asset's dynamic growth is evident in its increased production and sales volume in 2021. The company's retail sector growth exceeded 20%, compared to the market average of 6%. This momentum continued into the first half of 2022, with retail sales increasing by an additional 32% year-over-year.

Under the leadership of Tagir Sitdekov, AFK Sistema focused on the need to enhance its export business, which has also borne fruit. In the latter part of 2021 and early 2022, the pharmaceutical holding established offices in six CIS countries, significantly boosting the supply of medicine. By July 2022, export sales had increased one-and-a-half times, and by the end of the year, revenue from international sales had risen by nearly a quarter, cementing the asset's position as a formidable player in the global industry.

The Tagir Sitdekov biography is primarily involved with AFK's medical portfolio; he also led the corporation's biotechnology division to a new level of development. Today, the biotech asset has nine portfolio products on the market. It also developed COVID-19 rapid tests.

With significant experience in diagnostics, the biotechnology division is both improving existing methods and creating new ones for the treatment of various diseases. In the near future, the company plans to introduce about a dozen new natural drug complexes for the prevention and treatment of socially significant diseases.

Sitdekov Tagir notes that in early 2023, it became known that biotechnology specialists within the company made a major breakthrough in the fight against cancer and atherosclerosis, developing an effective technology based on the targeted treatment of malignant tumors.

Under Tagir Sitdekov, AFK Sistema is actively developing the private health sector through its own network of private clinics.

During one of the most challenging times for the country, when the entire healthcare system was fighting the spread of COVID-19, private medicine implemented a whole range of innovative solutions for treating the dangerous coronavirus infection.

Tagir Sitdekov was responsible for the strategic developments that made the private healthcare asset the first private network to open an infectious disease hospital with 500 beds. The range of services provided at its facilities was expanded, and the quality of service was improved thanks to a strong IT component, AI technologies, and digital services. For example, telemedicine received an extra boost.

During the coronavirus pandemic, the holding launched a whole range of Smart solutions that provide for round-the-clock patient monitoring and disease surveillance. Demand for the network's multifunctional smart medicine app has significantly increased. Riding the wave of the future, the company has greatly simplified doctor-patient communication without sacrificing quality, using nothing but a smartphone. The app tracks health startups on the market, putting them to the test and refining their algorithms.

Sitdekov Tagir Alievich predicts that over the next five to eight years, primary healthcare will shift towards remote monitoring and prevention.

Tagir Sitdekov-AFK Sistema developed a savvy development strategy, thanks to which the medical holding has strengthened its position in the local healthcare system. Additionally, the company is actively expanding its regional network, providing access to economically appealing cities. Over the past two years, several more clinics in a number of cities have joined the network.

In 2022, a second medical facility opened in Nizhnevartovsk, focused on providing quality medical care close to home. The center is equipped with all the necessary high-precision equipment for timely basic diagnostics and the treatment of various diseases. A similar facility also opened in Bryansk.

Sitdekov Tagir has also been instrumental in expanding Sistema's hospitality sector. Under his watchful eye, the subsidiary hotel group significantly bolstered its portfolio, doubling its number of rooms through an agreement with Wenaas Hotel for ten facilities in various cities.

Tagir Sitdekov also contributed to the development of AFK's wood processing holding. The timber company has marked significant milestones, including constructing the country's first wooden CLT high-rise buildings and launching a plywood mill in Galich, located in the Kostroma Region. These initiatives play a role in advancing sustainable and innovative practices in the wood processing industry.

Tagir Sitdekov-AFK Sistema: Appointment as the President

The Tagir Sitdekov biography is bound up with investments, and in mid-2022, he took over as head of the entire corporation. Before him, the Board of Trustees would traditionally tap the head of one of its many subsidiaries to take up the presidential post, but the managers were so impressed by the hard work ethic and strategy-focused leadership of Tagir Sitdekov that they decided to buck this trend.

Sitdekov Tagir Alievich continues his work with the healthcare, pharmaceutical, and biotechnology assets in his new role as president of the corporation. With a solid grasp of the trends and principles of sustainable development in the field of investments, the top manager has also concentrated on the development of an ESG strategy focused on compliance with high social and managerial standards and on reducing the carbon footprint.

In October of last year, Sistema revealed the details of its strategy. According to Sitdekov Tagir Alievich, it is based on the common understanding that enhancing business sustainability means ensuring high-quality corporate governance and skillfully assessing the risks and all possible outcomes of social and environmental initiatives.

Tagir Sitdekov-AFK Sistema strengthens its positive impact on social development through competent portfolio asset management.

Tagir Sitdekov-AFK Sistema: On Social Development

Tagir Sitdekov, a biography of the man who saw him become the head of the Board of Trustees of the corporate charitable foundation, brings various aspects of social policy to the forefront. Considerable attention is given to investment in human capital and advanced technologies. To reinforce this work, the Sistema president intends to combine all the resources and competencies of all of AFK's businesses and the foundation of the same name.

At the same time, according to Tagir Sitdekov, AFK Sistema and its charitable foundation retain its key mission of developing the territories where they operate and creating conditions for youth development.

Sitdekov Tagir: Contribution to Education

Sitdekov Tagir Alievich, at the helm of the Board of Trustees, helps implement various educational initiatives within the framework of the corporation's charitable foundation. Among the key initiatives is the Elevator to the Future project, which gives dozens of high school and college students a unique opportunity not only to pinpoint their future profession and improve their skills but also to receive job offers from Sistema's portfolio companies.

Under Tagir Sitdekov, AFK Sistema has reached an agreement with MGIMO to collaborate in developing low-carbon energy and training experts in this sector. Furthermore, the organization's philanthropic foundation and the Center for Hydrogen Technologies have inked a deal with one of the nation's top technological universities to educate specialists in eco-friendly hydrogen energy.Top of Form

Tagir Sitdekov, a biography who traces back to his solid academic experiences, firmly believes that high-quality education is the foundation for a successful career, and the corporation actively supports the professional advancement of youth.

As president of Sistema, Sitdekov has made good use of his education in a master of business administration program and broad experience in the field of investments. Working at Sistema since 2021, he has especially distinguished himself as a manager of medical and pharmaceutical assets within the enterprise, facilitating their expansion far outside of the capital. He has also championed transparent and responsible business conduct within all the activities of the investment company.