Irina Prokhorova, the older sister of Russian billionaire-turned-politician Mikhail Prokhorov, is set to replace him as head of his opposition party, Prokhorov officially announced on Friday.

      Irina, who supported Prokhorov in his failed bid for the presidency in 2012 and gained much popularity among the audience during that period, will now lead the Civic Platform party ahead of elections for the Moscow city legislature next year.

      She expressed excitement about the new posting on Friday, saying she believed the “family tandem” would be successful.  Prokhorov, one of the country’s most successful businessmen, at age 48, claimed the move did not signal his departure from the political arena. He explained it by his intention to make the party agenda less predictable for the Kremlin. There is also another reason for changing leaders in the party - Prokhorov's foreign holdings which could possibly ban him from taking part in Russia's political life, according to the law approved in May 2012 which prohibits state officials, their spouses, and their underage children from owning foreign bank accounts and assets abroad.

      Some experts say the Civic Platform leadership switch seems to be an attempt to bide time until Prokhorov can decide how to balance his holdings abroad with continued involvement in politics.