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UNITED COMPANY RUSAL PLC (Paris:RUSAL) (Paris:RUAL)
(Incorporated under the laws of Jersey with limited liability)
(Stock Code: 486)
CHANGE OF DIRECTOR AND
CHANGE TO THE COMPOSITION OF COMMITTEE
The Board of the Company is pleased to announce that Mr. Marco Musetti has been appointed as a non-executive Director with effect from 15 December 2016, and has also been appointed as a member of the Marketing Committee of the Company with effect from 15 December 2016. |
APPOINTMENT OF NON-EXECUTIVE DIRECTOR
The board (the "Board") of directors (the "Directors" and each a "Director") of United Company RUSAL Plc (the "Company") announces that SUAL Partners Limited, a substantial shareholder of the Company, proposed Mr. Marco Musetti ("Mr. Musetti") to be considered for nomination or recommendation as a non-executive Director pursuant to article 23.4 of the articles of association of the Company (the "Articles of Association"). The Board is pleased to announce that Mr. Musetti has, accordingly, been appointed as a non-executive Director of the Company with effect from 15 December 2016.
Particulars of Mr. Musetti are set out below:
Mr. Musetti, aged 47, has been a Senior Officer at Renova Management AG, an investment management company based in Zurich, Switzerland since 2007. He currently serves as Managing Director Investments of Renova Management AG. Mr. Musetti has also been serving as a member of the board of directors of Sulzer AG since 2011 and on the board of directors of Schmolz Bickenbach AG since 2013. Mr
Musetti was a member of the board of directors of CIFC Corp. from January 2014 to November 2016. Mr. Musetti was COO and deputy CEO of Aluminium Silicon marketing (Sual Group) from 2000 to 2007, Head of Metals and Structured Finance Desk for Banque Cantonale Vaudoise from 1998 to 2000, and Deputy Head of Metals Desk for Banque Bruxelles Lambert from 1992 to 1998.
Mr. Musetti holds a Master of Science in Accounting and Finance from London School of Economics and Political Science, United Kingdom, and a Major degree in Economics from University of Lausanne, Switzerland.
Mr. Musetti will sign an appointment letter with the Company as a non-executive Director with effect from 15 December 2016. The length of service of Mr. Musetti as a non-executive Director will be determined in accordance with the Articles of Association. Mr. Musetti's appointment may be terminated by Mr. Musetti giving the Company one month's notice of termination and/or otherwise in accordance with the Articles of Association. As a non-executive Director, Mr. Musetti will be entitled to a fixed director's fee of £120,000 per annum, which is determined by the Board with reference to the performance of the Company, his duties and responsibilities and the prevailing market conditions. Mr. Musetti will also be entitled to £10,000 per annum as a member of each Board committee to which he may be appointed.
As at the date of this announcement, Mr. Musetti was not interested or deemed to be interested in any shares or underlying shares of the Company or its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Save as disclosed above, as at the date of this announcement, Mr. Musetti is independent from and not related to any other Directors, senior management, substantial shareholders or controlling shareholders of the Company.
Save as disclosed above, Mr. Musetti has not held any directorship in any publicly listed companies in the last three years or any other position with the Company or its subsidiaries.
Save as disclosed above, there are no other matters relating to the appointment of Mr. Musetti that need to be brought to the attention of the shareholders of the Company and there is no other information which is required to be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The Board would like to welcome Mr. Musetti as a non-executive Director.
CHANGE TO THE COMPOSITION OF COMMITTEE
The Company announces that Mr. Marco Musetti, a non-executive Director, was appointed as a member of the Marketing Committee of the Company with effect from 15 December 2016.
By Order of the Board of Directors of |
16 December 2016
As at the date of this announcement, the executive Directors are Mr. Oleg Deripaska, Mr. Vladislav Soloviev and Mr. Siegfried Wolf, the non-executive Directors are Mr. Maxim Sokov, Mr. Dmitry Afanasiev, Mr. Ivan Glasenberg, Mr. Maksim Goldman, Ms. Gulzhan Moldazhanova, Mr. Daniel Lesin Wolfe, Ms. Olga Mashkovskaya, Ms. Ekaterina Nikitina and Mr. Marco Musetti, and the independent non-executive Directors are Mr. Matthias Warnig (Chairman), Mr. Philip Lader, Dr. Elsie Leung Oi-sie, Mr. Mark Garber, Mr. Dmitry Vasiliev and Mr. Bernard Zonneveld.
All announcements and press releases published by the Company are available on its website under the links http://www.rusal.ru/en/investors/info.aspxhttp://rusal.ru/investors/info/moex/ and http://www.rusal.ru/en/press-center/press-releases.aspx, respectively.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161215005858/en/
Contacts:
United Company RUSAL Plc