Norilsk Nickel shareholders voted Thursday against an effort by United Company RusAl to oust the current board of directors, a win for rival shareholder Interros and management, which both opposed the maneuver.
A total of 46.9 percent of shareholders participating in the emergency shareholders meeting voted against ending the current board’s power, with 37.88 percent voting in favor.
Another 0.41 percent of shareholders taking part in the meeting, held at the President Hotel in Moscow, abstained from voting. Interros and RusAl had campaigned aggressively in recent weeks for support from smaller shareholders.
Norilsk said about 92 percent of shareholders had cast votes by the end of the meeting, up from a preliminary tally of 70.5 percent before the start.
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