En+ Group announces management changes

Press releases


february, 2018

23 February 2018 — En+ Group plc (the “Company”, “En+ Group” or together with its subsidiaries “the Group”), (LSE: ENPL; MOEX: ENPL) a leading international vertically integrated aluminium and power producer, announces that the Group’s Board of Directors approved the appointment of Vladislav Solovyev as Chief Executive Officer (“CEO”) of the Group and his re-designation as an Executive Director of the Company and the appointment of Maxim Sokov as President of the Group. The Board of Directors has also accepted the resignation of Oleg Deripaska as President of the Group and re-designated him as a Non-Executive Director of the Company.

The resolutions of the Board of Directors will be effective from 15 March 2018.

Mr. Solovyev will focus on the operational management of the Group, implementation of its development projects, expansion into strategic markets and cooperation with Russian and international partners. Mr. Sokov will be in charge of the development and implementation of the Company’s long-term strategy and management of special investment projects and will oversee the communication with investors.

The changes to the Group’s management team are aimed at increasing En+ Group’s efficiency and will provide for improved synergy between the Energy and Metals Segments of the Group.

Lord Barker, Chairman, En+ Group, commented: "I am delighted to announce these well-earned promotions to the leadership of En+ Group. These executive appointments underpin the Board’s commitment to the highest levels of good corporate governance and rewarding senior management with a proven track record.

“These promotions further entrench our value creation strategy, shared with our new investors at the time of our recent IPO.

“Finally, on behalf of the Board, as we embark on the next chapter of our global growth, I want to thank Mr. Deripaska. Although he will remain an important Non-Executive Director, as he relinquishes his executive management role, I want to recognise his outstanding leadership in creating the world’s most successful vertically integrated clean energy and aluminium company. His unceasing drive for innovation and commitment to building a low carbon future are now an integral part of the Company’s culture.”

The Group also notices that following the nomination as CEO of En+ Group, Vladislav Solovyev has resigned from CEO position of UC RUSAL and has been appointed as the President of UC RUSAL. In accordance with the shareholders’ agreement, the Group proposed for nomination Alexandra Bouriko as CEO of UC RUSAL. The nomination has been approved by the Board of Directors of UC RUSAL.

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