Farm equipment under the Versatile brand, which is owned by Winnipeg-based Buhler Industries Inc., a company 96.7-per-cent owned by Rostselmash of Russia.Handout
A Russian businessman has stepped down from the board of Buhler Industries Inc., a Winnipeg-based farm equipment company.
In a statement on Wednesday, Buhler said its board has accepted Konstantin Babkin’s resignation as a director. He is well-known for publicly supporting Russian President Vladimir Putin.
Adam Reid, vice-president of sales and marketing, is replacing Mr. Babkin on Buhler’s board.
Last week, Buhler sought to distance itself from its Russian owners after the Kremlin’s invasion of Ukraine.
The company said it is not subjected to any Canadian sanctions against Russia. Buhler is 96.7-per-cent owned by Rostselmash, a major maker of agricultural equipment that is based in Rostov-on-Don, Russia, near the country’s border with Ukraine.
“Mr. Babkin has been a vocal supporter of the actions taken by the Russian Federation. These views are in stark contrast to those of the North American executive team and do not reflect the position or values of Buhler Industries,” the Manitoba company said on Wednesday.
With Mr. Babkin’s departure, there are now four Canadians and three Russians on Buhler’s seven-person board of directors.
The remaining Russian directors are Dmitry Udras, Yury Ryazanov and Oleg Gorbunov.
A Canadian, Buhler director Grant Adolph, has replaced Mr. Udras as the company’s chairman while another Canadian, Ossama AbouZeid, has been appointed to the board to replace John Buhler as a director.
Mr. Buhler is a Manitoba philanthropist who retired as Buhler’s chairman and chief executive officer in 2007.
Allan Stewart is the fourth Canadian serving on the board.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.
Brent Jang