Tagir Sitdekov: From a business consultant to the head of a large corporation
The Tagir Sitdekov biography has been associated with the field of investments for several decades now and currently heads one of the largest public investment companies in the country. He is in charge of Sistema and manages the development of its portfolio assets. Tagir Sitdekov’s managerial background includes assistance in scaling businesses from a variety of fields, including electro energetics, medicine, and pharmaceuticals.
Tagir Sitdekov Biography and professional training
Sitdekov Tagir Alievich was born in the capital, and he spent his childhood and received his first professional degree there as well. The future manager graduated from the Plekhanov Academy (later awarded the status of a university), where he studied economics. The school attracts highly qualified professors and teachers and continuously works on improving the learning process through the development and implementation of various educational programs, which allows graduates to successfully compete in the labor market.
Tagir Sitdekov also has an internationally recognized business degree, having studied in a program developed by the University of Chicago Booth School of Business a leading international center for training top-level executives. The EMBA format helps future managers restructure their thinking and formulate conceptually new approaches to the development of a future-oriented business. Sitdekov Tagir Alievich received his MBA degree in 2011.
TagirSitdekov: His professional start
The Tagir Sitdekov biography of work began in the late 1990s when he worked in a global network of auditing firms operating under the PricewaterhouseCoopers name. Sitdekov Tagir worked as an audit consultant with representatives of the mining and energy industries.
The next stage of the Tagir Sitdekov biography was investment banking, which began when he was offered a position at Creditanstalt Investment Bank. The company’s head office was located in Vienna but it also provided financing to commercial and industrial enterprises in foreign markets. With his experience at a large audit and consulting firm, Sitdekov Tagir Alievich was hired to provide business consulting services.
Tagir Sitdekov: Becoming a manager
Tagir Sitdekov received his first managerial experience at an energy company. In 2003, he became the financial director of the Sochi Thermal Power Plant, which currently provides electricity to the center of the resort town and the facilities built for the 2014 Olympics.
Sitdekov Tagir Alievich helped lay the foundation for a successful future for the TPP during his time as manager. The construction of the station was well underway, power units were commissioned, and the generating facilities were connected to the Krasnodar Region power grid. Tagir Sitdekov also oversaw several important processes, including the formulation of Sochi TPP’s development concept and the planning of the company’s financial activities. The manager’s responsibilities also included risk management.
Sitdekov Tagir managed to handle the tasks set by company executives in just two years. After leaving the energy company, he began to work in the field of investments and was involved in the implementation of large-profile projects.
Tagir Sitdekov AFK Sistema: The beginning of their collaboration
Since 2021, Tagir Sitdekov’scareer has focused on the development of Sistema, a large multidisciplinary association of companies in various industries. As a manager with extensive experience and expertise in the field of investment activity, he was initially invited to the position of managing partner. Tagir Sitdekov AFK Sistema handled development in the medical field, including the pharmaceutical division and the network of private clinics.
Tagir Sitdekov AFK Sistema has developed approaches that ensure the dynamic growth of the corporation portfolio companies. For example, Medsi has significantly increased its presence outside of the capital. The total area of the federal network’s facilities grew by a third – more than 63,000 square meters – over the course of 2021. New Medsi clinics have opened in the capitals of the Republic of Bashkortostan and the Volgograd and Rostov Regions, as well as in St. Petersburg. The company’s consolidated revenue grew by more than 20%.
Tagir Sitdekov AFK Sistema and the Medsi subsidiary have implemented a large-scale project to launch a network of SmartLab digital laboratories with a full range of diagnostics. The production complex can run up to 20 million analyses per year.
Sitdekov Tagir also supervised the preparation for the opening of an outpatient-inpatient children’s medical center. Since 2021, the high-tech medical institution has been taking patients from ages 1 to 18. The hospital specializes in a number of areas, including pediatric urology andrology, pediatric surgery, traumatology-orthopedics, pediatric gynecology, otorhinolaryngology, and infectious diseases. Most operations are performed using minimally invasive technologies.
Sitdekov Tagir Alievich assisted in the opening of Medsi competency centers focused on nosology in fields such as pediatric neurology and psychosomatics, and ophthalmology. In 2021, a stroke and heart attack prevention center, working with patients of all ages, opened in Perm. Tagir Sitdekov also participated in the creation of the International Center for Melanoma and Skin Tumors, which draws from the broad experience and skill of Medsi experts in detecting and treating skin diseases.
Another company led by Tagir Sitdekov AFK Sistema also showed a significant increase in production and financial figures. In 2021, the pharmaceutical company Binnopharm Group increased the sales of its own medicines to hospitals by more than a quarter, and by more than 20% in the retail sector – more than three times higher than the average of 6%.
Sitdekov Tagir Alievich also contributed to the Binnopharm Group obtaining international company status, and six foreign representative offices of this Sistema asset were opened under him. In 2021, medicine exports grew by 15% compared to the previous year, and by the end of 2022, the pharmaceutical company was recognized as the leader among manufacturers supplying medicines to neighboring countries.
The development strategy drawn up by Tagir Sitdekov and the management of Binnopharm Group, including active expansion into the markets of the CIS countries, ensures steadily growing sales: The pharmaceutical company sold 34% more of its products in 2022 than in 2021. The company thus strengthened its market position, increasing its share to 2.4%and becoming one of the top 10 companies in terms of retail.
Tagir Sitdekov AFK Sistema’s success in developing the business areas entrusted to him contributed to his significant career growth, and now he is the head of the entire corporation.
Tagir Sitdekov in a top management position
Tagir Sitdekov AFK Sistema took the highest management position at the corporation in the summer of 2022. He is now responsible for defining long-term development goals and developing ways to achieve them, effectively conducting day-to-day operations. As the president of the company, SitdekovTagir oversees the implementation of the corporate strategy, which includes significant goals such as minimizing the impact on the environment through the modernization of the corporation’s enterprises and improving the comfort and quality of the social environment in the regions where the company operates.
Sitdekov Tagir Alievichand the management team’s efficient work has contributed to the increase in Sistema’s financial performance. Both its consolidated revenue and net profit grew in 2022 – a time of high market turbulence – by strengthening the positions of the corporation’s key portfolio companies.
During Tagir Sitdekov’sfirst year as the head of Sistema, the Etalon Development Group increased its volume of real estate objects by three quarters. The company also expanded its presence by entering five new regions and adding 20 projects to its portfolio.
Under Tagir AFK Sistema and its agricultural holding Steppe have made marked gains in agricultural production. In 2022, the company increased milk yields by 71%, nearly 165,000 tons, compared to the previous year. New endeavors such as the distribution of dairy products and the production of packaged cheeses are also showing positive results. Sales of niche crops increased by almost 40%, which provided a significant 46.4% increase in the agricultural holding’s annual revenue (the most significant increase, 62.7%, came in the fourth quarter).
Under the leadership of Sitdekov Tagir, the Segezha Group holding increased its production and sale of lumber, the Binnopharm Group increased its retail sales of medicines both at home and abroad, and Medsi significantly expanded its presence outside of the capital.
Tagir Sitdekov has stressed that despite market volatility, Sistema saw positive results in 2022 thanks to its accumulated expertise in investment management and business scaling over the past 30 years.
Sitdekov Tagir Alievich and the Sistema management are focused on the further development of portfolio assets. In the spring of 2023, 10 hotels in various cities were acquired. The deal promises a twofold increase in Cosmos Hotel Group’shotel fund and revenue, which will make it a stronger player in the market. According to Sitdekov Tagir, the acquisition will help make the company a leader in hospitality for years to come.
Sistema is also heavily involved in the social agenda. As noted by Tagir Sitdekov, the corporation is increasing its funding for career guidance and personnel training for various industries. The charitable foundation, which manages Sistema’s social investments, runs scholarship programs for talented and interested youth, carries out educational and leisure projects, and organizes internships and support programs for young professionals. Tagir Sitdekov emphasizes that under his leadership, the financial-industrial group will certainly continue its social work.
