Russia power managers bail out as new owners come in http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSL0175258320080403?sp=true
Thu Apr 3, 2008
By Simon Shuster
MOSCOW, April 3 (Reuters) - The staff at two Russian power firms, bought out this year by European investors, are complaining of heavy-handedness from the foreign owners -- and many of them are quitting.
"There was a fundamental disagreement on the amount of autonomy the managers can have. The Italians are not ready to grant much freedom, and the managers reacted to that," said a source close to the shareholders of OGK-5 (OGKE.MM: Quote, Profile, Research), which has lost about 20 managers since it was acquired by Italy's Enel in February for $4 billion. http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSL0175258320080403?sp=true