Sergei Chemezov may join the Norilsk Nickel’s Board of Directors

The main shareholders of Norilsk Nickel, in the persons of of Oleg Deripaska of UC Rusal and Interros of Vladimir Potanin, have come to an agreement on the extraordinary meeting of company’s shareholders (which will take place on March 11) to support Sergei Chemezov, nominated by Metalloinvest, along with their own candidates, several sources, close to the co-owners of Norilsk Nickel, told to the newspaper Kommersant. One of the interlocutors said that this decision was made at the end of  last week after the service of institutional investors (ISS) recommended Norilsk Nickel’s shareholders not to vote for him.

Metalloinvest stated that it would vote for Chemezov with the whole its package (over 4%) at the meeting of shareholders. “He, being an independent Director, will contribute to the improvement of the corporate management in Norilsk Nickel,” - a representative of Metalloinvest noted. Thus, another candidate, nominated by the holding company of Alisher Usmanov, the Metalloinvest’s General Director Andrei Varichev, is  not likely  to join the new Norilsk Nickel’s Board of Directors.

http://www.metalinfo.ru/ru/news/62129

Translated by Svetlana Kyrzhaly