Petropavlovsk Chief Executive Officer Maslovskiy Steps Down

LONDON (Alliance News) - Russian gold mining company Petropavlovsk PLC said on Monday Chief ...

Alliance News 17 July, 2017 | 5:57PM
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LONDON (Alliance News) - Russian gold mining company Petropavlovsk PLC said on Monday Chief Executive Officer Pavel Maslovskiy has resigned from his role with immediate effect, but has agreed to assist the company in finding new leadership.

Petropavlovsk said it expects to announce an interim chief executive officer shortly.

Maslovskiy was one of the co-founders of the company, starting as chief executive in 1994 for seven years, before leaving his position in 2011 after being appointed as a senator member of the Federation Council, the Upper House of the Russian Parliament.

Maslovskiy retired from that political role in 2014, re-taking his role as chief executive officer in Petropavlovsk for another three years.

"The board expresses its appreciation to Maslovskiy for his service to the group over the past twenty three years, as a founder and one of the key drivers of the group's development, and thanks him for his assistance to achieve an orderly hand over. The board wishes Maslovskiy success in his future endeavours," said Non-Executive Chairman Ian Ashby.

Shares in Petropavlovsk closed up 0.7% at 7.00 pence on Monday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Petropavlovsk PLC 7.02 GBX 0.00 -
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