– UK – En+ Group plc, a leading international vertically integrated aluminium and hydro power producer, announces the appointment to its Board of Directors of the Rt Hon Lord Barker of Battle PC, a former UK Member of Parliament and UK Minister of State for Energy & Climate Change, as an Independent Non-Executive Director and Chairman.
The appointment of Lord Barker expands the current Board to nine directors, two of whom are independent; the other Independent Non-Executive Director being Philippe Mailfait, who has served as a member of the Board since September 2009.
The Company anticipates that an additional Independent Non-Executive Director will be appointed prior to or following the announced initial public offering. Independent Non-Executive Directors are expected to chair all Board committees (audit committee, corporate governance and nominations committee, and remuneration committee).
Following the announced initial public offering, the Company intends to expand the Board to 13 directors, six of which will not be appointed by the majority shareholder.
Maxim Sokov, CEO, commented: “The appointment of Lord Barker, to complement Philippe Mailfait, on our Board reinforces En+ Group’s commitment to best standards of corporate governance. Both individuals are highly experienced professionals and respected experts in their fields.
The development of green energy continues to be a fundamental component of our business and Lord Barker’s experience in promoting renewable energy will be invaluable to our efforts. Further, Lord Barker’s expertise will support not just our governance but the development of our business.”
Lord Barker, Chairman, commented: “En+ Group is at the forefront of a new industrial revolution, helping lead the global drive towards a low carbon economy. A unique world class company, it combines aluminium production and hydro generation on a scale unmatched anywhere else in the world. This places En+ Group at the vanguard of green industrial innovation, as it transforms its huge clean energy resources to green metal and supplies it to fast-growing international markets. It is a very exciting time to be joining the Company. “
Lord Barker has extensive business experience in mergers and acquisitions, corporate finance, investor relations, the energy sector and private equity followed by a career as a prominent public official. He served as a member of the British House of Commons from 2001 to 2015, and in October 2015 became a member of the House of Lords of the UK Parliament. From 2010 to 2014, Lord Barker served as the UK Minister of State for Energy & Climate Change, becoming the longest serving British energy minister for a generation. He presided over the largest ever expansion of UK clean energy, seeing the percentage of renewable electricity on the grid rise from 6% to 18%.
About En+ Group
En+ Group is a leading international vertically integrated aluminium and hydro power producer. The Company combines power plants with a total installed capacity of 19.7 GW (including 15.1 GW of hydro power assets), and 3.9 mtpa of annual aluminium production capacity (through a controlling stake in UC RUSAL plc, the world’s largest aluminium producer outside of China in 2016) which is the major consumer of En+ Group’s hydroelectricity. En+ Group reported consolidated revenue of USD 9.8 billion for 2016.
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