Main shareholders of Norilsk Nickel not to be in next board of directors

It is reported that the heads of the main shareholders of OJSC MMC Norilsk Nickel will not enter the next board of directors of MMC. Mr Vladimir Potanin head of Interros Holding confirmed that he will not enter the board. Mr Oleg Deripaska, co owner of Rusal added that neither he nor Mr Mikhail Prokhorov, the head of Oneksim will enter the board. Mr Potanin said that as per the agreement concluded, the sides intend to adjust their positions in the structure of new Board which will be elected on December 26th 2008 at the extra meeting of the shareholders. He also said that he believes that the optimal Board should include four representatives from Interros and Rusal, three independent directors and Mr Vladimir Strzhalkovskiy CEO of Norilsk Nickel & State representative. Mr Potanin also added that the candidates list will be confirmed at the regular meeting of Norilsk Nickel’s directors on December 1st 2008. Mr Potanin and Mr Deripaska support the election of an independent chairman of the board and intend to agree his candidacy at the consultancy with minority shareholders. It may be mentioned that currently Norilsk Nickel Board of directors includes nine people as follows: three Rusal’s representatives, three Interros’s representatives, and three independent directors. Source: Steelguru