One of Kazakhstan's Richest Businessmen Heads ERG's "Eurasian Empire"

Shukhrat Ibragimov has officially become the Chief Executive Officer (CEO) of the Eurasian Resources Group (ERG) corporation. The Ibragimov family ranks seventh in the Forbes ranking of the wealthiest business people in Kazakhstan, Orda.kz reports.

ERG's press service announced on October 2 that Shukhrat Ibragimov had replaced Benedikt Sobotka as CEO after over a decade. According to the company's official statement, Ibragimov's appointment "ensures the necessary succession."

Shukhrat Ibragimov's father, Alijan Ibragimov, who passed away in 2021, was a founder and co-owner of ERG. He controlled 20.7% of the company.

My father, Alijan Rakhmanovich Ibragimov, who passed away in 2021, is also one of the founding fathers of ERG. He carried ERG in his heart and passed this love on to me. I see my task as effectively using ERG's key competitive advantages and growing sustainably, ensuring long-term success for all our stakeholders, said Shukhrat Ibragimov, commenting on his appointment.

In an official statement, ERG states that the new head of the group "has extensive expertise." Shukhrat Ibragimov was previously the chair of the supervisory board of the management company ERG in Kazakhstan, a member of the board of directors of ERG S.à rl, and chaired the board of directors of the corporation.

Shukhrat Ibragimov took over the ERG board after co-founders Alexander Mashkevich and Patokh Chodiev resigned. His ascension signaled that the leadership of the Eurasian Empire was being handed over to a new, more open, and media-active generation of business people. Mashkevich and Chodiev left the board shortly before the Guardian published an extensive investigation of the group's activities.

In September, Shukhrat Ibragimov became a co-owner of JSC Shubarkol Premium, which Timur Kulibayev previously controlled.

Original Author: Nikita Drobny