At Polymetal, key management resigns

AK&M 05 June 2023 12:04

At Polymetal JSC, key management resigns from all positions. This is stated in the company's message.

Thus, Chief Executive Officer Vitaly Nesis and Chief Financial Officer Maxim Nazimok resigned from all senior positions in Polymetal JSC and its subsidiaries. They will retain their current positions at Polymetal International plc and focus on the operational activities of the Group's assets located in the Republic of Kazakhstan, as well as on the redomicilation of the company into the Astana International Financial Center in Kazakhstan. At the end of the redomicilation process, they will continue to work on the potential division of the Group's assets by jurisdiction as soon as it becomes practicable.

Pavel Danilin, the Group's Executive Vice President for Strategic Development, has completely ceased his employment with the company, Polymetal JSC and its subsidiaries.

Polymetal International plc - to produce gold and silver with assets in Russia and Kazakhstan. The company's revenue for 2022 amounted to $2.8 billion against $2.89 billion a year earlier. The loss was $288 million against a profit of $904 million. The operating loss was $167 million against a profit of $1.2 billion.