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Staff Shakeup at Polyus

Billionaire Mikhail Prokhorov will take the post of CEO of the country’s top gold producer Polyus Gold after the board sacked former CEO Yevgeny Ivanov, Polyus said Thursday.

Polyus said Wednesday that it would return assets of Kazakh miner KazakhGold to their former owners in exchange for about $509 million, clearing the way for a larger London listing by the Russian miner. Prokhorov owns about one third of Polyus’ shares.

Yekaterina Salnikova, who works at Prokhorov’s Onexim group, was elected chairman, replacing Prokhorov. Ivanov, as chairman and CEO of KazakhGold, will be engaged in Polyus’ top international projects, the statement said.

Onexim will sell about 1 percent of the country’s top gold producer, Polyus Gold, for $35 per ADR, a financial markets source said Thursday. 


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