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Deripaska quits Rusal board

Photo: vspro.info

Russian businessman Oleg Deripaska who is in the US sanctions list has left the board of directors of Rusal, a statement released at the Hong Kong stock exchange says.

“Mr. Deripaska has confirmed that he does not have any disagreement with the board and that there is no other matter relating to his resignation which needs to be brought to the attention of the shareholders of the company,” the statement runs. It says the businessman is quitting since May 25.

As EADaily reported earlier, Rusal acting in the interests of its stakeholders and seeking to avoid impact of the sanctions announced resignation of its board of directors. Since May 23, the company’s CEO is Yevgeny Nikitin, while Vladislav Solovyev, Siegfried Wolf, Maxim Sokov, Dmitry Afanasyev, Gulzhan Moldazhanova, Olga Mashkovskaya and Yekaterina Nikitina will quit the company’s board of directors from June 28.

The company says its management is sparing no effort in order to neutralize consequences of the US sanctions, but they do not rule out that the sanctions can affect sales and the supply chain.

Oleg Deripaska fulfilled the US Treasury claim and pivoted from control over Rusal and En+. Besides, the holding plans to replace the directors with fully independent managers.

Permalink: eadaily.com/en/news/2018/05/25/deripaska-quits-rusal-board
Published on May 25th, 2018 05:53 AM
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