UC RUSAL announces management changes

UC RUSAL announced the appointment of Oleg Deripaska as the company's CEO. His candidacy was proposed by EN+ and supported by other shareholders of RUSAL.

Alexander Bulygin, who has until recently been the CEO of RUSAL, will move to chair the Board of Directors of EN+ Group, the main shareholder of RUSAL. In this position, he will oversee matters of integration of the Russian metal and mining assets, be responsible for raising the efficiency of En+ Group, as well as coordinate the interests of RUSAL shareholders on the Norilsk Nickel Board of Directors.

Commenting on the management changes, Oleg Deripaska said: “Alexander Bulygin has headed RUSAL for more than five years. Under his management the company, which was the largest Russian aluminium producer, became the leader of the world’s aluminium industry, a truly global company with diversified and one of the most competitive operations in the global metal and mining sector. I am confident that Alexander's experience in consolidating assets and executing large deals will be applied in full in his new role.”

Oleg Deripaska was already the CEO of RUSAL for a three year period after the company was established in 2000. In the following years he took an active part in the company's development as a member of the Board of Directors.  Now his role as CEO will be focused on providing for the sustainable development of the company under the conditions of the global financial crisis and implementing a series of crisis management measures.