AGD Diamonds was headed by the former head of printing enterprises Mikhail Bakov

Mikhail Bakov became the CEO of the diamond mining company AGD Diamonds, which is developing a pipe named after Grib in the Arkhangelsk region, instead of Gennady Pivnya, Interfax news agency reported.
Piven, a veteran of the Russian mining industry, has been the CEO of AGD since October 2021, and before that he was the first deputy CEO (this post has been held by Sergey Neruchev since 2018). In 2011-2015 Piven was the first vice-president of Musa Bazhaev's Russian Platinum, in 2007-2010 he was the first vice-president of ALROSA, and in 2005-2007 he headed Severalmaz ("daughter" of ALROSA), which is adjacent to the pipe named after Grib.
The new head of ADG Bakov was previously the head of JSC PC Pushkin Square and Central Warehouse of Printing Materials, engaged in printing activities in Moscow.
Bakov has already met with the governor of the Arkhangelsk region Alexander Tsybulsky.
Tsybulsky, in particular, noted the need to continue the AGD project on the synthesis of single crystals of diamond and the manufacture of single crystal diamond products. The company implements this project jointly with the scientific and educational center "Russian Arctic: new materials, technologies and research methods", located in Arkhangelsk.
The company is controlled by VTB, which partially financed the sale by LUKOIL of the diamond miner Otkritie Industrial Investments LLC (OII) for $1.45 billion in 2017. OII stopped servicing the loan, and according to VTB's lawsuit, the court declared the owner of AGD Diamonds bankrupt, bankruptcy proceedings were opened against the company. VTB expects to return the funds provided by OII through the bankruptcy procedure or keep the asset for itself, said the head of the bank Andrey Kostin.
AGD is actually supervised by VTB Deputy Chairman Andrey Puchkov, who is responsible for working with the bank's problematic and non-core assets, two sources familiar with the company's activities told Interfax. The curator will have to solve sales issues, since AGD has accumulated a large volume of unrealized products, and the funds in the accounts are running out, said one of the agency's interlocutors.
AGD Diamonds (formerly known as Archangelskgeoldobycha) is the only diamond producer in Russia independent of ALROSA, which accounts for about 10% of all-Russian production. According to its reserves, the pipe named after Grib which is developed by AGD is the fourth in Russia and the eighth in the world. Reserves were approved in 2010 in the amount of 76 million tons of ore. The life of the field, which is currently being mined in an open manner, is more than ten years. AGD diamonds are usually sold at auctions in the world trade centers of Antwerp and Dubai through its sale division - Grib Diamonds.

Alex Shishlo for Rough&Polished