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  HOME | Oil & Energy (Click here for more)

Head of Russian Aluminum Giant Rusal Removed amid Corruption Accusations

MOSCOW – A Russian tycoon who was recently accused of corruption by the country’s opposition leader is set to leave the presidency of the world’s second-largest aluminum producer, Rusal, the company said in a statement released Friday.

Oleg Deripaska will be replaced at the helm of Rusal by Vladislav Soloviov, who had been until now the company’s director general, by March 15. In addition, the statement announced that Alexandra Bouriko, who was Rusal’s CFO until now, would be promoted to CEO.

“UC Rusal, a leading global aluminum producer, announces the appointment of Alexandra Bouriko, previously Chief Financial Officer, as Chief Executive Officer of RUSAL. Vladislav Soloviev, who previously held this position, has been appointed CEO of En+. He will also become the President of Rusal,” read the statement.

Deripaska, an influential billionaire, had headed En+ – an energy-related company specialized in mining coal and metals – since 2013 and Rusal since 2014, holding 66 percent of shares in the former and 48.13 percent in the latter.

Opposition leader Alexei Navalny had accused Deripaska of allegedly bribing Russian Deputy Prime Minister Sergei Prikhodko in a 25-minute-long video posted online, which included footage of the two men lounging on a yacht with several luxury prostitutes.

Navalny also noted Deripaska’s connections to Paul Manafort, the erstwhile campaign manager for United States President Donald Trump between June-August 2016 who was now a prime target in the department of justice’s special counsel’s investigation into alleged Russian meddling in the US presidential election.

Deripaska won a defamation lawsuit that resulted in Navalny’s video being taken down from both YouTube and Instagram.

 

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