Russian Aluminium Giant Rusal CEO Soloviev Replaces Deripaska as President

MOSCOW (Sputnik) - Vladislav Soloviev, the chief executive of Russia’s aluminium giant Rusal was promoted to president after Oleg Deripaska stood down, while chief financial officer Alexandra Bouriko took over as CEO, the company said Friday.

"UC RUSAL, a leading global aluminium producer, announces the appointment of Alexandra Bouriko, previously Chief Financial Officer, as Chief Executive Officer of RUSAL. Vladislav Soloviev, who previously held this position, has been appointed CEO of En+. He will also become the President of RUSAL," the statement read.

Rusal also reported a 3.6-percent rise in last year’s earnings after ending the year with $1,222 billion in net profit.

The figures published on its website show that the company, one of the world’s leading aluminium producers, received a $1,077-million adjusted net profit and a $1,573-million recurring net profit, as compared to $292 million and $959 million in 2016.

In 2017, Rusal accounted for roughly 5.8 percent of global aluminium production. The company employs over 61,000 people in 20 countries across five continents. It sells products primarily in the European, Japanese, Korean, Chinese, South East Asian and North American markets.

Billionaire Deripaska has been leading the company since November 2014 after becoming its CEO in 2009. Soloviev became Rusal's CEO in 2014. he was in charge of the company's long-term development and market penetration. He was was CEO of En+ Group, Rusal's main shareholder, between 2008 and 2010.