Tagir Sitdekov: From a Business Consultant to the CEO of a Major Corporation
For several decades now, one Tagir Sitdekov biography has been linked to the area of investments and today he heads one of the largest publicly traded investment companies in the country. He is responsible for Sistema and its portfolio development. Tagir worked as an MBA holder with helping scale up companies operating in a wide range of industries such as power engineering, medicine, and pharmaceuticals.
Tagir Sitdekov Biography and Professional Training
Sitdekov Tagir Alievich was born in the capital city and received his first professional degree there. The future manager graduated from Plekhanov Academy (later awarded university status) with the degree in economics. It attracts top professors and teachers who are always working on improving learning processes through various educational programs development, which allows graduates compete successfully at labor market.
Tagir Sitdekov also holds an internationally recognized business education having studied under program developed by University of Chicago Booth School of Business—a leading international center for training top managers. EMBA format helps the future executive restructure their thinking, create fundamentally new approaches to building business of tomorrow. In 2011, Sittikov Taghir Alievič earned his MBA degree.
TagirSitdekov: His professional start
At World Network Limited – PwC, where he had started his career as an auditor’s assistant, that’s how it all began back then in late 1990’s globally. The said company audited accounts for entities drawn from mining industry and energy sector being among others that Sitdekov Taghir provided counselling services to them.
The next stage in Tagir Sitdekov biography was investment banking when he got employed at Creditanstalt Investment Bank. The main office of this bank was situated in Austria but it gave loans to commercial and industrial enterprises in other countries too. Having left a big audit-consulting company, Tagir Sitdekov was hired as a business consultant.
Tagir Sitdekov: Becoming a manager
His first managerial experience was obtained by Tagir Sitdekov at an electricity company. In 2003 he became Financial Director of Sochi CHP which nowadays supplies energy to the center of the resort and facilities created for Olympics in 2014.
During his period as a director, Sitdekov Taghir Alievich laid the foundation for a successful future of TPP. The construction of the station itself was already underway, power units were put into operation, and the generating capacities were connected to Krasnodar Krai grid. The CEO also supervised such important processes as drafting development concept for SochiTPP and forming financial plans for it. This work included management of risk.
Sitdekov managed to solve all tasks set by his superiors within two years only. After leaving the power industry, he started working in investments field where he contributed to implementation of high-profile projects.
Tagir Sitdekov AFK Sistema: The beginning of their collaboration
Tagir Sitdekov’s career since 2021 has been focused on the development of Sistema, a large association of multi-disciplinary companies in various industries. Tagir Sitdekov AFK Sistema was responsible for the project implementation in the medical field, including pharmaceuticals and private clinics network.
Tagir Sitdekov AFK Sistema has developed methods that allow portfolio companies to grow dynamically. Medsi is one example; it has significantly increased its presence beyond Moscow city limits. The federal network’s facilities were increased by over one-third or by more than 63,000 sq.m in the year under review. In addition to this, new Medsi medical centers have opened in Ufa and Volgograd and Rostov regions’ cities as well as St.Petersburg capital city itself. Consolidated revenues grew by more than 20% during the period.
A large-scale SmartLab digital laboratory network launch project was carried out by Tagir Sitdekov AFK Sistema together with its subsidiary Medsi. Up to 20 million tests can be run annually on this production complex.
Also, these preparations were performed when Sitdekov Tagir supervised opening of an outpatient-inpatient center for child care. High-tech medical institution took patients from one to eighteen years old starting from 2021. It specializes in several areas such as urology-andrology pediatrics, pediatric surgery, traumatology-orthopedics pediatrics, pediatric gynecology otorhinolaryngology infectious diseases). Most operations are minimally invasive procedures.
Sitdekov Tagir Alievich contributed towards establishing Medsi competency centers targeting nosologies such as pediatric neurology-psychosomatics and ophthalmology. A stroke and heart attack prevention center working with all age groups was launched at Perm in 2021. Also, he took part in creation of International Center for Melanoma and Skin Tumors based on Medsi practices of identification and treatment of skin disorders.
Another company led by Tagir Sitdekov AFK Sistema also showed a significant increase in production and financial figures. For instance, in 2021 Binnopharm Group increased sales of its own medicines to hospitals by more than a quarter, and by more than 20% in the retail sector – over three times greater than the average figure of 6%.
Sitdekov Tagir Alievich also made his contribution to obtain international company status for Binnopharm Group and opened six foreign representations for this Sistema asset. In 2021, compared with a year earlier, pharmaceutical was raised by 15%, and as at the end of 2022 it is recognized as the leader among manufacturers supplying drugs to neighboring countries.
The strategy that was laid out by Tagir Sitdekov together with the management team at Binnopharm Group that included active expansion into CIS markets ensures that sales continue to grow: last year this pharmaceutical firm increased the amount of its products sold by 34%. The company thereby strengthened its position in the market raising this share up to 2.4% thus becoming one of top ten market players in terms of retail.
Tagir Sitdekov’s success in developing his business domains helped him move up rapidly from manager to CEO
AFK Sistema’s top management position was taken by Tagir Sitdekov in the summer of 2022. He is now in charge of setting long-term development goals and developing measures to achieve them, effectively conducting current operations. As the company’s president, Mr Sitdekov oversees the implementation of the corporate strategy that includes such far-reaching objectives as reducing environmental burdens through modernization of corporation’s production facilities and enhancing comfortability and quality of social environment in regions where it operates.
The effective work under the guidance of Sitdekov Tagir Alievichand his team contributed to an increase in Sistema’s financial performance. For its consolidated revenue and net profit both improved within 2022 – a period characterized by high market turbulence – thereby strengthening positions for this corporation’s main portfolio businesses.
Etalon Development Group increased its volume of real estate objects by three quarters during Tagir Sitdekov’sfirst year as CEO at Sistema. They also extended presence entering five new regions with an additional 20 projects added to their portfolio.
Tagir AFK Sistema together with its agricultural holding Steppe have achieved significant success in agricultural production. The company increased milk yields by nearly 165,000 tons or almost 71% from what it was recorded last year (2021). Recently, new projects involving the processing and selling dairy products have emerged while packaged cheeses are now being produced. Sales volumes of niche crops went up by close to forty percent leading therefore to a corresponding growth in annual revenues (the most substantial one, amounting at an astonishing 46.4%, fell on the fourth quarter) for this agroholding (+62.7%).
Sitdekov Tagir as CEO has seen Segezha Group holding increasing its own sawn timber production and sales; Binnopharm Group raising home drugstore medicine trade at least twice and Medsi expanding beyond Moscow significantly.
As noted by Mr.TagirSitdekov, despite market volatility, Sistema has shown positive results in 2022 due to accumulated expertise gained through 30 years of investment management and business scaling.
Further development of the portfolio assets is also a key focus for Sitdekov Tagir Alievich and the company’s management at Sistema. In different cities, ten hotels were bought during spring 2023. According to Sitdekov Tagir, this deal will make Cosmos Hotel Group a stronger player as it promises a twofold increase in its hotel fund and revenues for many years to come.
Sistema is also actively participating in social issues. Commenting on this issue, Tagir Sitdekov stated that the corporation is increasing its investment in career guidance and training staff for various industries. Scholarship programs aimed at talented and interested youth are offered by the charitable foundation that manages Sistema’s social investments; education and recreational projects are being implemented as well as internships and support programs for young professionals are organized by them from time to time. Mr.TagirSitdekov points out that under his rule financial-industrial group surely continues its social activities.
