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Russian businessman Tinkov to step down as chairman of Tinkoff Bank board

Reuters - UK Focus
Updated ·1-min read

MOSCOW, April 2 (Reuters) - Russian businessman Oleg Tinkov, the founder of TCS Group on Thursday announced his intention to step down from the board of Tinkoff Bank in order to focus on his health, after being diagnosed with acute leukaemia in October.

Tinkov said a transfer of his shares in TCS Group to a Tinkov family trust had occurred on March 19, to ensure that the shares continued to be held by his family in the event of his death.

Tinkov disclosed his cancer battle last month, a day after the U.S. Department of Justice said it was charging him with filing false tax returns. (Reporting by Alexander Marrow; Editing by Alison Williams)