MOSCOW, March 23 (RIA Novosti) – President of influential American Chamber of Commerce (AmCham) in Russia, Andrew Somers, plans to quit his post by the end of this year, Kommersant business daily reported on Saturday.

Somers, head of the largest business organization in Russia, will step down after almost 12 of presidency and move to the private business sector, the paper reported citing AmCham.

Next year Somers plans to join Teneo Holdings, a global strategic advisory group formed in 2011 and headed by Declan Kelly, the former U.S. economic envoy to Northern Ireland.

According to the organization, AmCham was established in Russia in 1994, and lists more than 800 members, including major U.S. corporations and large European and Russian companies.

It was not immediately clear who would replace Somers in his post.