Michael Cowgill, the President of the US Chamber of Commerce in Georgia, will serve as Chairman of the Supervisory Board of the Anaklia Development Consortium. The Supervisory Board has issued a statement.
“The consortium’s shareholders have scheduled a general meeting for later this month to replace them and augment the board with highly reputable international business and professional figures” – the statement reads.

As noted in the statement, three new members have now been nominated to the board: R. Michael Cowgill, President of the American Chamber of Commerce in Georgia; Ted Jonas, Senior Counsel with the international law firm Dentons; and Jean-Patrick Voisin, President of Concorde Capital. The nominations are expected to be approved at the consortium’s meeting of shareholders scheduled for later this month.
Mamuka Khazaradze and Badri Japaridze made the decision to resign from the posts of the Chairman and Deputy Chairman. Khazaradze said they were ready to hand over their shares to the International Independent Trust Fund before the groundless allegations were dropped.