Polymetal says executives resign from Russian firm

MOSCOW, Jun 5 (PRIME) -- All top executives of Polymetal International, the precious metals producer with assets located in Russia and Kazakhstan, have resigned from the Russian unit hit by the Western sanctions, the company said in a statement on Monday.

CEO Vitaly Nesis and Deputy CEO for Finance Maxim Nazimok have resigned from all executive positions in Russian JSC Polymetal and its subsidiaries. At the same time, they will keep their executive positions in Polymetal International Plc and focus on the Kazakh assets of the company and its re-domiciliation from the Jersey Island to the Astana International Financial Centre (AIFC) in Kazakhstan, the company said.

After completion of re-domiciliation, the executives will continue working on a potential split of the company’s assets into jurisdictions, which would happen as soon as possible, Polymetal said.

Also, Polymetal’s Executive Vice Presidents for Strategic Development Pavel Danilin has completely resigned from the company and all of its subsidiaries.

In a separate statement, the Russian company said that Sergei Cherkashin, formally Deputy CEO for Economics, was appointed as the new CEO, and former director of the department for budgeting, analytical control, and reporting Sergei Salmanov was appointed as Cherkashin’s deputy for finance.

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