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Russian Aluminum

November 12, 2003

RUSAL Appoints new CEO, Chairman of the Board, and Changes its Board of Directors

MOSCOW, 12 November 2003 - RUSAL, one of the world’s largest aluminium companies, appointed Alexander Boulygine as  Chief Executive Officer after his tenure of three years as Chief Operating Officer at the company.

The company also announced changes in its Board of Directors reflecting the change in the company’s ownership structure, announced earlier this month. Basic Element, one of RUSAL’s shareholders, acquired a further 25% stake in the company from Millhouse Capital, increasing its ownership position to 75%. Millhouse retains a 25% interest in the company.

Mr. Deripaska was elected Chairman of the Board at RUSAL.

Oleg Deripaska and Gulzhan Moldazhanova, Strategy and Corporate Development Director of RUSAL, join the Board and replace the Directors that formerly represented the interests of Sibneft shareholders.

Alexander Boulygine (Chief Executive Officer of RUSAL), Stalbek Mishakov (Director of Corporate Relations at Basic Element) and Alexander Yushkevich (Managing Director of Aluminium, Automotive Production and Aviation Industries at Basic Element) remain as Directors on RUSAL’s Board.


Biographical information:

Oleg Deripaska was the President of Siberian Aluminium from 1997 to 2001, and from 1994 to 1997, he worked as the General Director of the Sayansky Aluminium Plant. He has been the Chairman of the Board of Directors of Basic Element since the founding of the company in 2001. Oleg Deripaska is the Vice President of the Russian Association of Manufacturers and Entrepreneurs and the Chairman of the Board of the Russian National Committee at the International Chamber of Commerce.

Alexander Boulygine began his career in the aluminium industry in 1993 as a head of external relations for the trading company Rosaluminproduct and since that time, has held a number of positions in the aluminium sector. In 1997, Mr. Boulygine became the first Vice-President of Sibirski Aluminium. He was appointed as Chief Operating Officer of RUSAL when the company was founded in March 2000. 

Gulzhan Moldazhanova was appointed Strategy and Corporate Development Director of RUSAL in July 2002. Prior to that, she served as RUSAL’s Sales and Marketing Director from March 2002. She has devoted eight years of her professional life to the aluminium industry, including five years in senior positions at Sibal (now Basic Element) and RUSAL.

Stalbek Mishakov joined Basic Element (then Sibal) in 1999. Prior to his role as Director of Corporate Affairs at Basic Element; Mr.Mishakov was head of the State Committee of International Relations of Khakasia.  

Alexander Yushkevich joined Basic Element in 2002. Prior to that, he held senior positions in the investment company, Troika-Dialog. Currently, Alexander Yushkevich heads the company’s investments in the aluminium, automotive and aviation industries.  

About RUSAL

RUSAL, a world leader in aluminium production was formed in March 2000 from the merger of a number of the largest smelters and other aluminium producers located in the CIS. The company accounts for 75% of Russia's primary aluminium output and 10% of the global primary aluminium output. RUSAL is a fully vertically integrated company with a complete production cycle from bauxite mining and the production of raw materials, to the production of primary metal, semi-products and aluminium-based end products. RUSAL is headquartered in Moscow.

For further information:
www.RUSAL.com
Eugenia Harrison, Moscow, +7 095 720 5170, or zharrison@RUSAL.ru; Fred Harrison, London, +44 (0) 20 7431 7517, or fharrison@ansdellconsult.com; Stan Neve, New York, +1 212 333 3810, or sneve@brunswickgroup.com


 

 

 

 

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