LONDON (dpa-AFX) - Ferrexpo plc (FXPO.L) said Monday that Kostyantin Zhevago has decided to step down, temporarily, from his position of Chief Executive Officer to focus on resolving certain matters in Ukraine relating to one of the businesses he owned until 2015. However, Zhevago will remain on the Board as a non-independent, non-executive director.
The company said it has appointed Chris Mawe, Chief Financial Officer, to Acting Chief Executive Officer of the Group. Mawe will take over all executive responsibilities of Kostyantin Zhevago in addition to his existing financial responsibilities.
Recently, Ferrexpo said it had noted media reports claiming that chief executive officer Zhevago was being investigated by Ukraine for his business dealings there. Zhevago denied any allegations of wrongdoing and that the company was closely monitoring the situation.
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