Gold miner appoints new chief and chairman after boardroom clear-out
◆ Gold miner Petropavlovsk has appointed a new interim chief and chairman following a boardroom clear-out last week that saw the founders of the business removed by shareholders, writes Simon Foy.
The FTSE 250 Russia-focused miner appointed Maksim Meshcheriakov as its interim boss, but added that any decision on a permanent CEO and other executive management roles would be determined by the board “in due course”.
James W Cameron, an existing independent non-executive director, was also appointed as chairman.
The moves come a week after founder Peter Hambro, former chief executive Pavel Maslovskiy and former deputy chief executive Alya Samokhvalova were voted off the board by investors in a crunch vote following a bitter battle over the company’s future.
The board confirmed yesterday that Dr Maslovskiy had left the company.
Gold has hit record highs as bond yields and interest rates remain low.