– UK, London / RUSSIA, Moscow – Further to the announcement made on 22 November 2013, Polyus Gold International Limited (LSE – PGIL, OTC (US) – PLZLY), the largest gold producer in Russia, announces that Mr. Pavel Grachev, a member of the Board of Directors, has taken on the added responsibilities of Interim Chief Executive Officer of the Company until a successor is elected, and Mr. German Pikhoya has now resigned as CEO and Director of the Company with immediate effect.
Mr. Grachev will split this interim role with his responsibilities as Chairman of Nafta Moskva (Cyprus) Limited. Mr. Grachev joined the Board on 13 November 2013 and was nominated by Wandle Holdings Limited, a company associated with Mr. Suleyman Kerimov.
In addition, Mr. Fedor Kirsanov, who is currently First Deputy CEO of Polyus Gold, will be appointed the interim General Director of the subsidiaries which manage the assets of the Polyus Gold Group in Russia. He will serve as interim General Director of such companies until the new CEO is appointed and will report to Mr. Grachev.
As previously announced, the Nominations Committee of the Board is engaged in an intensive search to recruit a new Chief Executive.
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