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Vasily Titov elected President of the RGF

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Vasily Titov is First Deputy President and Chairman of the Management Board of Russia's VTB Bank

Sports Minister Mutko has confirmed the election of Vasily Titov to the position of President of the RGF. Titov is replacing Andrei Kostin. Titov has been Vice President of the FIG for the last four years and, like Kostin, is senior in Russian gymnastics' sponsors VTB Bank. 'He faces huge challenges in the run up to the Olympics', says Mutko, 'in general, it is OK, and I take it positively ... It was just a logical decision'. 

According to Titov, there are no problems with the funding of the RGF and this change merely reflects a new management structure being introduced in the RGF as it moves forward to try to develop the sport in Russia.  'Kostin wanted his successor to use his experience of the sport and to move forward with its development', said Titov.

He emphasised that the team will continue to develop for the Olympics as planned under the leadership of Andrei Rodionenko. 

Rodionenko has added that he feels it is important for Titov to work not only nationally but also globally, leveraging the links he has at FIG level.  He  believes it is most important that Titov continues the work begun by Kostin on strengthening the regions, with a particular view to facilitate young gymnasts joining the national team at junior level, and their successful transitioning to seniors.

VTB is majority owned by the Russian government.  Its position as sponsors of Russian gymnastics and other sports reflects President Vladimir Putin's policy of supporting sports development with the goal of re-establishing Russia as a leading sports power, emulating the glory and power of the Soviet era.

Sources

http://ria.ru/sport/20141025/1030060116.html
Мутко: Минспорт и ФСГР дополняют друг друга в экономической сфере
Впереди Олимпиада, спортивная гимнастика развивается, строятся центры, создаются методики подготовки,...
http://itar-tass.com/sport/1530826

http://investing.businessweek.com/research/stocks/people/person.asp?personId=24916425&ticker=VTBR:RU

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