Polymetal management leaves the Russian division due to sanctions
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Polymetal announced that its management is leaving the Russian division in connection with the sanctions against Polymetal. Chief Executive Officer Vitaly Nesis, Chief Financial Officer Maxim Nazimok and Vice President for Strategic Development Pavel Danilin will leave their positions.
Management of the company’s assets in Russia was delegated to the leaders of AO Polymetal. Sergei Cherkashin has been appointed General Director of the company.
“Vitaly Nesis and Maxim Nazimok will retain their current positions at Polymetal International plc and will focus on the operating activities of the group’s assets located in the Republic of Kazakhstan, as well as on the redomiciliation of the company to the Astana International Financial Center (AIFC) in Kazakhstan,” the statement says. press release on the company’s website.
USA turned on “Polymetal” in the sanctions list in May. At the end of the same month, the majority (91.78%) of Polymetal shareholders voted for the re-registration of a company from the British island of Jersey in the AIFC in Kazakhstan. In the first quarter of this year, the company’s revenue increased by 19% year-on-year, to $733 million. The company’s net debt amounted to $2.428 billion, remaining at the level of the first quarter of 2022.
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