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| Vladimir Putin |
The arrest of Yukos oil company owner Mikhail Khodorkovsky was a watershed for Russian business. The smart money has abandoned the lead of the former poster boy for improved corporate governance and western style management, and instead is scrambling to join what could be called the Commanding Heights Club chaired by president Vladimir Putin (pictured right). Yukos was credited with sparking a rapid improvement in corporate governance, and other oligarchs followed its example, hoping to see the same 1,000% share price gains.
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