Board of Directors
The Company's highest management body is the General Shareholders' Meeting. The Board of Directors is responsible for Polymetal's activities during the time between shareholders' meetings. Members of the Board of Directors are elected at the General Shareholders' Meeting through cumulative voting. There are five independent directors on Polymetal's Board of Directors. The Company believes that independent directors are an important factor in protecting shareholders' interests. Furthermore, thay have broad international experience in the mining industry, and they have served in top management positions at leading international companies. As such, their presence raises the quality and effectiveness of the Board of Directors' decision-making. |
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Ilya Yuzhanov
Chairman of the Board of Directors, member of the Remuneration and Nomination Committee
Mr Yuzhanov has been Chairman of the Board since October 2008, and a member of the Board of Directors since September 2008. He is currently a member of the supervisory boards of ALROSA and NOMOS-BANK, a Board member of Uralkali, a member of the Russian Consultation Council of the Russian branch of Orkla Foods CIS (Norway), and was an adviser to the Chair man of the Board of Computershare from April 2010 to April 2011. He has previously served on the boards of several of Russia’s largest companies including NO VATEK, Kirovsky Zavod, IDGC Holding, RAO UES, Russian Railways, and Gazprom. Mr Yuzhanov has held various positions with Leningrad and St. Petersburg City Administrations. He has also been Chairman of the State Committee on Land Resources and Land Utilization of the Russian Federation, a Minister of Land Policy, Construction and Utilities of the Russian Federation, and Minister of Antimonopoly Policy and Business Support of the Russian Federation. Mr Yuzhanov graduated from the Faculty of Economics of Leningrad State University, receiving a PhD in Economics in 1989.
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Konstantin Yanakov
Deputy Chairman of the Board of Directors and Member of the Audit Committee
Mr Yanakov has been a member of the Board of Directors since 2008, and is also Chief Financial Officer of ICT. He was previously a vice president of MDM Bank and CFO of Polymetal. Mr Yanakov graduated from the Finance Academy under the Government of the Russian Federation with a degree in World Economy, has a PhD in Economics from the Russian State University of Management, and in 2007 was awarded an MBA from the London Business School.
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Sergey Areshev
Member of the Board of Directors
Mr Areshev has been a member of the Board of Directors since 2008, and is currently Head of the International Legal Department of ICT. He was previously an associate with international law firms including Coudert Brothers LLP in St. Petersburg and with ICT. Mr Areshev graduated from St. Petersburg State University with a degree in Law and received an MBA from the Vlerick Leuven Gent Management School.
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Jonathan Best
Independent member of the Board of Directors, Chairman of the Audit Committee
Mr Best has been an independent director since 2006, and is currently an independent non-executive director of AngloGold Ashanti Holdings Plc and a member of its audit committee, non-executive chairman of Sentula Mining Limited, where he serves as Chairman of the nomination committee, Chairman of the investment committee and a member of the remuneration committee. He holds similar positions in the exploration company, Bauba Platinum Limited. Mr. Best is also an independent director and chairman of the audit committee of Metair Investments Limited and Gulf industrial Limited. Mr Best has more than 30 years' experience in the mining industry at both corporate and operational level. During 2006 he was Interim Chief Executive of Trans-Siberian Gold Plc (UK), prior to which he was Chief Financial Officer and an Executive Director at AngloGold Ashanti Limited and involved in both the formation of the company and its listing on the New York Stock Exchange. Mr Best is an associate of the Chartered Institute of Management Accountants and of the Chartered Institute of Secretaries and Administrators, and holds an MBA degree from the University of the Witwatersrand, Johannesburg. -
Marina Grönberg
Member of the Board of Directors
Mrs Grönberg has been a member of the Board of Directors since 2008, and is also on the boards of Waterstone’s Holdings Ltd (UK), Marenco Swiss Helicopters AG, Mozaik Holdings Ltd, MIG Credit, Azbuka-Atticus Publishing Group, A&NN Capital Management Fund Ltd, Chairman of the boards of GLP (Global Logistic Partnership) Limited and ZAO SPAR-Retail, President of Nadezhda charitable foundation, member of the supervisory board of Euroset Holdings Limited, member of the managing Committee of A&NN Capital Management Fund Ltd. Mrs Grönberg graduated from Moscow State University’s faculty of Applied Mathematics, All-Russian State Distance Learning Institute of Finance and Economics with a degree in Economics and Finance, and from Moscow State Law Academy with a degree in Law.
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Vitaly Nesis
Member of the Board of Directors, Chief Executive
Mr Nesis was appointed Chief Execu tive in 2003, and has been a member of Poly metal’s Board of Directors since June 2004. From 2002 to 2003 Mr Nesis was Chief Executive of Vostsibugol, a major coal mining company based in eastern Russia. From 2001 to 2002 he headed the investment planning department at SUAL-Holding, having been Strategic Development Director at the Ulyanovsk Automobile Plant in 2000. From 1999 to 2000 he worked for McKinsey & Co in Moscow and from 1997 to 1999 Mr Nesis worked as an analyst at Merrill Lynch in New York. He has a degree in Economics from Yale University (USA). Mr Nesis is also Chief Executive of Poly metal Management Company, a subsidiary of Polymetal.
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LEONARD HOMENIUK
Independent member of the Board of Directors, Chairman of the Remuneration and Nomination Committee
Mr Homeniuk has been an independent member of the Board of Directors since 2010, and is currently also a non-executive Chairman of the Board of Directors of Trade Ideas LLC. Between 2004 and 2008 he served as President, CEO and member of the Board of Directors of Centerra Gold Inc, a Canadian gold mining company listed on the Toronto Stock Exchange. He has over 35 years’ experience in the mineral sector covering gold and uranium exploration, development and production. Mr Homeniuk is a member of the Ontario Society of Professional Engineers, the Canadian Institute of Mining and Metallurgy and the Prospectors and Developers Association of Canada. He gained an MSc from the University of Manitoba and is an Honorary Professor of the Kyrgyz Mining Institute.
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Russell Skirrow
Independent member of the Board of Directors, Member of the Audit Committee.
Dr. Skirrow has been a member of the Board of Directors since September, 2008. Dr. Skirrow worked for 12 years in the international mining industry with Gold Fields in South Africa, and then with Western Mining Corporation in both Australia and the USA. Subsequent to this, Dr. Skirrow have worked in the stockbroking/investment banking industry in both Australia and UK for 17 years, including last 10 years at Merrill Lynch in UK, firstly as Head of Global Metals, Mining & Steel Research, and then subsequently Global Chairman of the Metals/Mining team in Investment Banking, and in Australia as Vice-Chairman in Investment Banking, leaving that position in August, 2008. Dr. Skirrow is currently also the Chairman of Dampier Gold Limited, listed in Australia. Dr. Skirrow is a member of Institute of Materials, Minerals & Mining (M.I.M.M.M.) with Chartered Engineer (C.Eng) status and a Fellow of Financial Services Institute of Australia, educated at Durham University (B.Sc Hons., geology) and a PhD from Royal School of Mines, Imperial College of London.
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Martin Schaffer
Member of the Board of Directors, member of the Remuneration and Nomination Committee
Mr Schaffer has been a member of the Board of Directors since 2008. He is Deputy Chair man of the Management Board of Home Credit and Finance Bank LLC, a member of the supervisory board of PPF GATE AS, and a Board member of Fosborn Home LLC. Mr Schaffer has also been Chair man of the Board of Directors of Vector Leasing since November 2010, and Chairman of the Board of Directors of Benotech Capital Group since March 2010. He previously headed the legal department at TV Nova, CET 21 Limited, and was secretary general of PPF Investments Limited and council to the Management Board of Home Credit and Finance Bank LLC. Mr Schaffer graduated from Charles University, Prague with a degree in Law and Medicine.
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Ashot Khachaturyants
Independent member of the Board of Directors
A member of the Board of Direc tors since 2009, Mr Khachaturyants is also Chief Executive of Sberbank Capital and was Senior Deputy Chairman of the Central Council of the Dinamo All Russian Sports Association until November 2010. During his career he has worked as Director of the Investment Policy Department at the Ministry for Economic Development and Trade of the Russian Federation, and as Head of Administration for the RF State Border programme. Mr Khachaturyants graduated from Gubkin Russian State University of Oil and Gas with a degree in Economy and Engineering, and from the Finance Academy of the Government of the Russian Federation with a degree in Economics.