Norilsk aims to settle boardroom war with new set-up
Monday 17 December 2012
Norilsk Nickel named its long-time co-owner Vladimir Potanin as its chief executive yesterday under a Kremlin-inspired deal to end a boardroom war at the world's top nickel and palladium producer.
His fellow Russian oligarch Roman Abramovich will take control of a 20 per cent voting stake and act as a buffer between Mr Potanin and rival Oleg Deripaska, who owns a share in Norilsk through Rusal, the world's largest aluminium producer.
Mr Potanin, pictured, said he planned to stay in the job for between 18 months and two years. The peace deal will last for 10 years, with the core shareholders agreeing to keep their stakes for five. Mr Abramovich, the billionaire owner of Chelsea football club, could act as a conduit for the Kremlin at the cash-rich company that mines the vast mineral deposits of Russia's far north.
- 1 Which country would be hardest to invade?
- 2 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 4 How the language you speak changes your view of the world
- 5 Royal baby girl born: Duchess of Cambridge's second child will be a princess thanks to Queen
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: SNP and its activists 'openly racist' towards the English, Farage says
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...
£24000 - £28000 per annum: Recruitment Genius: A Senior SEO Executive is requi...
£16000 - £18000 per annum: Recruitment Genius: An Online customer Service Admi...
£18000 - £22000 per annum: Recruitment Genius: This global, industry leading, ...