TIDMPOG
RNS Number : 6815S
Petropavlovsk PLC
07 November 2019
7 November 2019
Petropavlovsk PLC
Board Change: Appointment of Additional Independent
Non-Executive Directors
Senior Management Change: Mr Danila Kotlyarov to be Appointed as
Chief Financial Officer
Board Change: Appointment of Independent Non-Executive
Directors
The Board of Petropavlovsk PLC ("Petropavlovsk" or the
"Company"), is pleased to announce the appointment of Charlotte
Philipps and Katia Ray as Independent Non-Executive Directors of
the Company from 8 November 2019.
Ms Philipps has extensive experience in corporate financing and
equity transactions in Russia and in other transitional former
Soviet and CMEA countries, principally focused on natural
resources. Ms Philipps is a member of the Strategy and Investment
Committee of Inter RAO UES, Russia's largest integrated utility
company. In addition, she is a member of the Advisory Board of
CAPTIS Intelligence Inc., a US based global industry leader in
security and crime prevention and chairs the Board of one of the
UK's largest architecture firms.
Ms Philipps, a German national and qualified lawyer, relocated
to London in 1993 to join the European Bank for Reconstruction and
Development (EBRD) in London, where she held a number of senior
positions, latterly as Senior Banker for EBRD's Natural Resources
Team, before accepting the appointment of President & CEO of
AIG Russia Century Fund, Moscow. Ms Philipps lived and worked in
Moscow during the period 2006 to 2014. Ms Philipps speaks a number
of languages, including Russian.
Mrs Ray has a scientific and technical background and over 25
years' experience in the mining sector in senior leadership roles
with both Rio Tinto plc and Anglo American plc, primarily in
business development, sales and marketing and project and change
management. She has worked across the globe in a number of
different commodities including industrial minerals, diamonds and
platinum group metals. Mrs Ray founded and runs a management
consulting firm and has advised corporate mining companies on
corporate strategy across the value chain, private equity groups on
M&A projects and a number of start-up businesses.
Mrs Ray has a number of voluntary roles, including acting as a
Governor and a Nominations Committee member at the Royal Surrey
County Hospital NHS Trust and is a Business Advisor for Young
Enterprise UK.
Mrs Ray has a MSc in Chemical Engineering from the Mendeleev
University of Chemical Technology in Moscow, Russia. Mrs Ray is
Russian but has lived in the UK since the early 1990s and is a
British citizen.
Commenting on these appointments, Sir Roderic Lyne,
Non-Executive Chairman of Petropavlovsk said:
"In the Nominations Committee letter to shareholders dated 24
April 2019, the Committee set out the Board's aim to identify and
recruit both female and younger Directors with relevant
qualifications.
I am delighted that following the appointment of Charlotte
Philipps and Katia Ray, this objective has been achieved. Their
appointment will improve the gender and age balance on the Board,
whilst their differing skillset and backgrounds will add
considerable depth to the skills and experience of our Board.
Charlotte has significant expertise in corporate financing and
natural resources, whilst Katia has a scientific and technical
background and experience in the mining sector. This addition to
the Board's skillset will benefit Petropavlovsk as it enters its
next stage of its development.
Following these new appointments, which resulted from an
extensive process assisted by recruitment consultants Savannah, our
Board is complete."
There is no information to disclose in respect of Listing Rule
9.6.13 in relation to the appointment of either Charlotte Philipps
or Katia Ray.
Senior Management Change: Appointment of Mr Danila Kotlyarov as
new Chief Financial Officer
Petropavlovsk announces that Mr Alexey Dubynin, who joined the
Company's internal audit team in 2012 and was appointed as Chief
Financial Officer in July 2018, will be leaving the Company for
personal reasons on 31 January 2020. He will be succeeded in the
role by Danila Kotlyarov who will be appointed as CFO on 1 February
2020.
Mr Kotlyarov holds a BA in Management from Moscow State
University and a MA in International Economics from the Moscow
State Institute of International Relations (MGIMO). He is a fellow
member of the Association of Chartered Certified Accountants
(ACCA), Chartered Financial Analyst (CFA), member of Hong Kong and
Russia Associations of Financial Analysts.
Mr Kotlyarov has extensive financial management work experience
in various international companies including most recently as CFO
and Executive Director to IRC Ltd.
Commenting on these changes, Dr Pavel Maslovskiy, Chief
Executive Officer of Petropavlovsk, said:
"I would like to thank Mr Dubynin for his extensive service over
the past few years, particularly his contribution with respect to
the turnaround strategy which is beginning to bear fruit. Alexey
leaves Petropavlovsk in a strong position to generate healthy cash
flows and continue our focus of delivering value to all our
shareholders.
He will be succeeded by Mr Kotlyarov, a highly qualified CFO who
has more than demonstrated his abilities at IRC and where he has
overseen a significant expansion of that Company's operations. I
will be delighted to welcome him to the Petropavlovsk team and look
forward to working together to deliver the next chapter of the
Company's growth strategy."
About Petropavlovsk
With a Premium Listing on the London Stock Exchange,
Petropavlovsk (LSE: POG) is a major integrated Russian gold
producer with JORC Resources of 20.5Moz Au which include Reserves
of 8.2Moz Au.
The Company's key operating mines (Pioneer, Malomir and Albyn)
are in the Amur Region in the Russian Far East and the Company has
produced a total of c.7.5Moz of gold since operations began in
1994. Petropavlovsk has a strong track record of mine development,
expansion and asset optimisation.
The Group recently entered a new era of growth following the
successful commissioning and start-up of its flagship asset, the
Pressure Oxidation (POX) Hub at Pokrovskiy, which enables the
processing of the Company's abundant refractory reserves and
resources.
Petropavlovsk is one of the region's largest employers and one
of the largest contributors to the sustainable development of the
local economy.
For more information
Please visit www.petropavlovsk.net or contact:
Petropavlovsk PLC +44 (0) 20 7201 8900
Patrick Pittaway / Max Zaltsman / Viktoriya TeamIR@petropavlovsk.net
Kim
Peel Hunt LLP
Ross Allister / James Bavister / David
McKeown +44 (0) 20 7418 8900
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor / James Asensio +44 (0) 20 7523 8000
Buchanan +44 (0) 20 7466 5000
Bobby Morse / Ariadna Peretz POG@buchanan.uk.com
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END
BOAFSLFDWFUSESF
(END) Dow Jones Newswires
November 07, 2019 08:09 ET (13:09 GMT)
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