Russian Aluminum Giant Rusal Announces Resignation of Top Executives

MOSCOW (Sputnik) - Russian aluminum giant Rusal on Thursday announced the resignation of its chief executive Alexandra Bouriko and seven directors.

"Alexandra Bouriko, the CEO of the Company, has tendered her resignation as the CEO with effect from 23 May 2018. Ms. Alexandra Bouriko has confirmed that she does not have any disagreement with the Board," the company said in a press release.

Rusal said Evgeny Nikitin has been appointed by the Board as her replacement until a new chief executive is chosen.

The company’s executive directors, Vladislav Soloviev and Siegfried Wolf, said they would stand down on June 28. Non-executives Maxim Sokov, Dmitry Afanasiev, Gulzhan Moldazhanova, Olga Mashkovskaya and Ekaterina Nikitina also tendered their resignations effective next month.

On May 2, the US Treasury issued a guidance related to Russia's Rusal and En+ Group, saying the United States could reverse sanctions on the companies if Oleg Deripaska cedes control of the companies. Last week, Deripaska resigned as the director of the En+ Group.

In early April, the United States imposed new sanctions against Russia, affecting a number of key businessmen and companies controlled by them. Billionaire Deripaska and his En+ Group, GAZ, Basic Element and Rusal companies were included on the list.