MOSCOW, Oct 23 (Reuters) - RUSAL appointed two independent, non-executive directors to its board on Monday as a step towards improving corporate governance at the world's third-largest aluminium producer. RUSAL said it had appointed Philip Lader, a former U.S. ambassador to Britain, and Nigel Kenny, a partner at financial services firm Sabre Capital International Worldwide Inc.
"These changes are part of our continuing efforts to ensure that corporate governance at RUSAL is in line with best international practice," RUSAL Chairman Andrew Michelmore said in a statement.
The company, which is considering an initial public offering, said corporate governance improvements also included disclosure of its ownership structure and key financial results.
RUSAL's main owner is Oleg Deripaska, Russia's sixth-richest man. The company posted revenues of $6.65 billion in 2005 to U.S. GAAP standards, holding company Basic Element said in July. RUSAL agreed this month to merge with SUAL and assets belonging to Switzerland-based commodities trader Glencore to create a company, owned 66 percent by RUSAL, that would produce one-eighth of the world's aluminium.
This could be followed by an IPO in London within 18 months, SUAL owner Viktor Vekselberg said on Oct. 9, when the companies announced the merger plan.
豫公网安备41010502003434号