UC Rusal was unable to change the chairman of the board of directors of Norilsk Nickel

The Board of Directors of Norilsk Nickel rejected the proposal of UC Rusal (owns 26.39% of the company) to appoint an independent director Evgeny Shvarts as the Chairman of the Board. This was reported to Vedomosti by a source close to the council. The meeting took place on March 13, 2023.

The information was confirmed by a representative of Norilsk Nickel. “The Board of Directors at today’s meeting confirmed the powers of the chairman of the board and heads of committees,” he said. According to a Vedomosti source, four directors voted for the UC Rusal initiative, eight voted against, and one abstained.