Bigger role for ENRC chairman to placate investors
Kazakh mining giant Eurasian Natural Resources Corporation (ENRC) has beefed up the role of its chairman as it tries to placate angry investors over corporate governance.
Mehmet Dalman, the veteran former Commerzbank banker who took charge of the FTSE 100 miner in February, now has direct responsibility for finance, risk, human resources, legal & compliance, and investor relations at ENRC.
The miner stopped short of turning the current part-time, non-executive, chairman's role into an executive position. But Mr Dalman's increased status is a bid by ENRC to boost investor confidence in the miner, which has seen its share price crash from 731p in January to below 300p.
Back in 2008, the company's shares were at 1,450p.
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